Tech stocks have showed remarkable resilience in 2023 in the face of rising interest rates and an uncertain economic outlook. The tech-heavy NASDAQ index is up over 14% year to date through April 11.
The US GDP grew by 2.9% in the fourth quarter of 2022, according to figures from the Commerce Department, topping consensus estimate of 2.8% from economists polled by Dow Jones.
The stock market crash of 2022 significantly depressed US equities’ valuations. In this backdrop, many believe now is the right time to buy stocks for long-term benefits.