Macroeconomic headwinds such as aggressive interest rate hikes by the Fed, multi-decade high inflation, industry layoffs, recessionary concerns, and geopolitical instability have marred the tech industry's performance.
However, the overall demand for tech goods and services remains robust. The global information technology market is estimated to grow at a CAGR of 4.3% until 2026. Moreover, investors' interest in tech stocks is evident from the SPDR NYSE Technology ETF's (XNTK) 12.5% returns over the past three months, 11.2% returns over the past month, and 4.6% over the past nine months.
