Like most technology segments, the software industry has witnessed a massive sell-off this year due to the Fed’s aggressive interest rate hikes. The rising borrowing costs due to the unprecedented interest rate hikes this year have worried investors about the prospects of software companies.
However, the central bank’s rate hikes seem to be paying off as inflation eased in October, with the consumer price index (CPI) rising 7.7% year-over-year and 0.4% sequentially, lower than expected.
