The tech sector has witnessed a massive sell-off this year amid the Fed’s aggressive rate hikes to battle high inflation. Technology stocks went from most loved during the pandemic to the most heavily sold. The sell-off has led several fundamentally solid tech stocks to decline substantially in price and now seem to be trading at a discount.
Fundstrat’s Tom Lee believes investors should take advantage of the dip to ensure long-term returns. He also expects technology demand to soar as companies try to offset labor shortage with tech, and the sector has a history of reviving itself after a market bottom.
