Technology stocks have delivered outstanding gains to investors since the beginning of 2023, with a 69% jump in the value of the Nasdaq-100 Technology Sector index over this period. Artificial intelligence (AI) has played a central role in this tremendous rally.
However, the red-hot rally in technology stocks has recently come to a halt. The Nasdaq-100 Technology Sector is down 11% in the past month.
But recent quarterly results from some of the bigger companies in the field suggest otherwise. These tech players indicate that AI-related infrastructure spending continues to remain solid, so it may be a good idea to buy shares of these AI companies in the wake of the recent market sell-off. Let’s look at the reasons why.
This post appeared first on Trades Of The Day.