Last year the tech industry was under pressure due to the challenges posed by high inflation and the Fed’s aggressive interest rate hikes. Although the Fed is likely to raise interest rates twice by the end of the year, it is expected to start cutting interest rates next year, which could be positive news for tech names.
Given the solid long-term growth prospects of the industry, it could be wise to buy fundamentally strong software stocks Commvault Systems, Inc. (CVLT), IBEX Limited (IBEX), and eGain Corporation (EGAN).
