Technology stocks have taken a battering over the last 10 months after the long bull run finally came to an end. The tech-heavy Nasdaq Composite index has fallen by 29% since its high at the end of 2021, while the share prices of Netflix and Meta have dropped by nearly 60% after disappointing results.
The macroeconomic environment has certainly taken its toll on the lofty valuations of technology stocks. Rising interest rates have reduced the valuation of technology shares, while high inflation has dampened both consumer and corporate demand for technology products and services.
