2 Top Tech Stocks to Buy During a Recession
An economic downturn caused the Nasdaq Composite index to plunge 33% in 2022. Tech companies were some of the hardest hit as spikes in inflation led to reductions in consumer and commercial spending. The PC market experienced steep declines in sales. Meanwhile, e-commerce businesses struggled to attract shoppers. The challenging period illustrated why it's crucial to hold tech stocks during market dips.
The Nasdaq Composite index has risen 32% in 2023, largely taking back what it lost. As a result, investors who sold in 2022 will not have benefited from the recovery many tech stocks have enjoyed this year. An economic slump is often an excellent time to fill up on tech stocks at bargain prices and reap the rewards over the long term.
Despite recent market growth, macroeconomic hurdles have continued to plague many tech companies this year. As a potential recession looms, it's a good idea to know what stocks to buy in a sell-off.
Source Fool.com
