Since last year, software stocks have been facing selling pressure due to the Fed’s aggressive rate hikes. Although the industry might remain under pressure in the foreseeable future, given the possibility of slowing demand, it is well-positioned for long-term growth. One could take advantage of the troubled market conditions by investing in high-quality software stocks Autodesk, Inc. (ADSK) and Progress Software Corporation (PRGS).
Before discussing the factors making me bullish on these stocks, let’s see what could drive the software industry’s growth in the long run.
