Against the reports of layoffs, the tech sector’s hiring activity remains robust. The U.S. Bureau of Labor Statistics job report showed that tech companies added 20,300 net new workers in June. Tech employment for the first half was 59% ahead of last year’s period.
In a recent note, JPMorgan Chase & Co. (JPM) strategists noted that some beaten-down tech stocks could be worth investors’ attention based on their attractive valuations. According to CNBC’s ‘Mad Money’ host Jim Cramer, the tech stocks might be poised for long-term recovery after the sector rallied last week.
