continues to show growth
Tech sector continues to show growth
2022 hasn't been a great year for tech stocks but by taking a macro view we can see that the majority of tech stock is now up over 60% in the past 5 years.
In the past traditional markets and cryptocurrency have taken a hit due to factors such as the Federal Reserve announcing an increasing amount of interest-rate hikes. Therefore, it is no surprise as to why investors are leaning towards recession proof stocks in the tech sector. In the modern day with technological changes in the economy we are seeing that the tech sector may be the sector that thrives during a recession.
Tech companies to watch
Over the past decade, tech companies such as Netflix, Meta and Apple have dominated the market becoming household names, but it is newer companies that are witnessing exponential growth in recent years. Here are just a handful of companies that have seen excellent growth in uncertain times.
- XPENG - electronic vehicles (EV)
- Alibaba - AI & Cloud Computing
- SpaceX - Space exploration
- Klarna - Fintech & online payments
If the past is anything to go by, its easy to see that upcoming tech stocks can go from start-up to billion dollar organisations in a relatively short period.
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