2 Top Tech Stocks Ready for a Bull Run
Technology stocks have taken a shellacking in 2022. The Federal Reserve has started raising interest rates, which lowers stock prices because future cash flows are discounted at higher rates.
Meta Platforms (NASDAQ: META) and DocuSign (NASDAQ: DOCU) have been no exception. Their stock prices have fallen considerably off their highs. However, the sell-off has arguably gone too far, making Meta Platforms and DocuSign ready for a bull run.
Meta Platforms is down a whopping 56% off its highs. The company is facing several headwinds that are slowing revenue growth, including privacy policy changes by Apple and competition from short-form video site TikTok. Those headwinds have caused Meta's growth rate to slow to 7% in its most recent quarter, a far cry from its compounded annual growth rate in the last decade of 41.3%.
Source Fool.com
