Growing investments in digital transformation, the shift to cloud-based services, and the adoption of new-age technologies are all boosting the tech industry’s growth prospects. While this could be the right time to invest in the space, the high-interest rate environment could have varied impacts on different tech businesses, making it risky to invest in specific stocks.
Therefore, a relatively safer approach to capitalize on the industry’s growth prospects could be to have exposure to buckets of tech stocks by investing in promising tech ETFs. To that end, Vanguard Communication Services Index Fund (VOX), Technology Select Sector SPDR Fund (XLK), and Vanguard Information Technology Index Fund (VGT) could be wise portfolio additions now.
