3 Stocks I'm Buying During a Tech Stock Correction
Technology stocks have led the market correction in 2022. Investors have been spooked by rising inflation and upcoming interest rate hikes. The tech market was also red-hot for much of 2021, and some of that euphoria was priced in. The international tension caused by Putin's invasion of Ukraine has caused more uncertainty, and volatility has been high. The tech-heavy Nasdaq has recovered from its year-to-date (YTD) lows, but remains over 8% down in 2022. The companies below have posted impressive results, which could lead to market outperformance.
According to IDC, in 2024, companies will spend over $1 trillion on Future of Work technologies, and 57% of total technology spending will be for digital transformation. This offers a tremendous opportunity for continued growth for Salesforce (NYSE: CRM). Salesforce is a customer-relationship-management software leader and expects a total addressable market of $248 billion by 2025. Its Customer 360 platform connects company departments and data in a single platform allowing companies to serve customers better. The platform also facilitates "work from anywhere," which has become a must.
Source Fool.com
