3 Top Tech Stocks to Buy During a Recession
It was already a foregone conclusion, but it's now official: The National Bureau of Economic Research officially declared on June 8 that the economy is in recession. It ends what was the longest period of expansion on record, lasting well over a decade from June 2009 until February 2020.
Time to panic, right? Hardly! While the impact from the coronavirus-fueled contraction will be felt for years, markets are far more forward-looking than not. Though the after-effects of the Great Recession of 2008-09 were felt for many years, March 2009 was the low point for the S&P 500, which called an end to the recession long before most started feeling better about the state of the economy.
And when it comes to investing, technology is one of the best places to deploy savings in the midst of a recession. After all, tech is all about making improvements and creating efficiency, and when the going gets tough, many organizations turn to tech to try and help tighten their belts and improve on legacy processes. Thus, while the market and the economy will be a wild ride this summer and beyond as the pandemic continues, I am buying tech while waiting for an eventual uptick in economic activity.
Source Fool.com
