The tech stocks are some of the worst performers so far this year, as the record-high inflation, geopolitical tensions, and the Fed’s aggressive stance have taken a toll on the technology sector. The Nasdaq Composite index has declined more than 30% year-to-date.
However, the growing tech dependency and the adoption of new and advanced technologies, including 5G, cloud computing, artificial intelligence (AI), and the Internet of things (IoT), provide a solid base for the tech stocks to rebound in the upcoming months. The technology market revenue is expected to reach $1.57 trillion by 2027, growing at a 7.1% CAGR.
