The Nasdaq-100 index is often used as a barometer for the technology sector's performance. It has declined about 31% this year and is approaching its 52-week low point, potentially triggering even more pessimism among investors.

But optimists will tell you there's one thing we know for sure: Throughout history, the stock market has always broadly recovered to new highs, given enough time. For that reason, this isn't a time to panic. Instead, investors should be on the hunt for quality opportunities they can hold for the long run.

Stock selection, of course, makes all the difference. Some companies have declined in value steeply from their pandemic-era highs set in 2020 and 2021, but that doesn't necessarily mean they'll reclaim those levels when the economic environment evolves. With that in mind, here's one stock to buy now and one to avoid.

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Source Fool.com