The COVID-19 pandemic-induced rapid digitalization and consumers’ growing reliance on tech products and services have helped the tech industry thrive. Furthermore, increasing corporate and government investments and continuing technological breakthroughs should drive the industry’s growth.
However, because it is interest-rate sensitive by nature, the industry suffered a massive sell-off lately with the Fed tightening its ultra-loose monetary policy to fight multi-decade high inflation. While many tech stocks may not yet have hit bottom, considering the industry’s solid growth prospects, many high-quality stocks are now trading at attractive prices.
