Persistent geopolitical uncertainties and the Fed's aggressive interest hikes have led to massive tech sell-off lately. However, continued digitization and increasing dependence on technology solutions should drive growth for the tech sector. In addition, strong corporate earnings and increasing investments in tech upgrades should help revive investors’ sentiment about the technology sector.
According to data from Bain & Company, "born tech" companies have contributed to 52% of total market value growth since 2015, whereas 20% of market value growth has come from companies with a tech-led strategy. According to IDC, the technology industry is on pace to exceed $5.3 trillion in 2022.
