Last week, the U.S. Bureau of Labor Statistics released its monthly Consumer Price Index data, and the annualized increase in inflation came in at 7.7%. While it remains much higher than the Federal Reserve's target of 2%, it has come down from the 40-year high of 9.1% back in June. 

That gave technology stocks the green light to move higher, because it indicates to investors that the recent pressures on consumer spending might be easing, and the cost of capital might not rise as much as previously feared. 

To top that off, the language education platform Duolingo (NASDAQ: DUOL) released its financial report for the third quarter of 2022 (ended Sept. 30) on the same day. The company's results were among its strongest this year, bucking the broader economic slowdown. With its stock down 51% from its all-time high, here's why it's a buy on the dip.

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Source Fool.com