It’s been a tough year for almost all sectors of the market, but this bear has been particularly brutal for tech stocks, which have suffered big losses on concerns about rising interest rates. Year to date, the Nasdaq Composite is down 32.6%. The silver lining is there are many cheap tech stocks on sale. Furthermore, there are signs that a rebound could come sooner than some anticipate.
If the Fed slows the pace of its rate increases, whether it’s next month or next year, hard-hit tech stocks are likely to lead the way higher. Therefore, investors should consider the cheap tech stocks on today’s list as buy-and-hold candidates in anticipation of an eventual tech breakout.
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