Akamai Technologies, Inc. (AKAM) provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. On the other hand, Cloudflare, Inc. (NET) operates as a cloud services provider that delivers a range of services to businesses worldwide. It offers an integrated cloud-based security solution to secure a range of platforms.
Historically high inflation remains unbattered despite interest rate hikes. Consequently, the Fed is likely to announce further rate hikes shortly. Such anticipation has led to an overwhelming deterioration in the performance of tech stocks, evident from the NASDAQ Composite’s 30.9% year-to-date decline. However, given the solid long-term prospects of the tech industry, fundamentally sound tech stocks are expected to bounce back soon.
