7 Top Tech Stocks to Buy Heading Into Q4 2022
If you love tech stocks, this hasn’t been your year. But that doesn’t mean you shouldn’t be looking at the top tech stocks to buy for the fourth quarter. Yeah, the sector is taking a beating, and that’s best reflected in some of the major exchange traded funds that hold tech stocks. The Technology Select Sector SPDR Fund (NYSEARCA: XLK ) is down 28% so far this year. The Invesco QQQ ETF (NASDAQ: QQQ ) suffered a similar fate, down 29%. And the much-vaunted ARK Innovation ETF (NYSEARCA: ARKK ) dropped a whopping 57%. Much of the blame rests on the economy – inflation is at its highest since the 1980s and the Federal Reserve is doggedly raising interest rates in an effort to force prices down – even at the risk of running the economy into a recession. The sector recently had its worst two-week stretch since the beginning of the Covid-19 pandemic as the Fed hiked rates by another three-quarters of a percentage point. On top of that, tech companies that rely heavily on imports are being hurt by a stronger U.S. dollar because U.S. products are more expensive overseas.
7 Top Tech Stocks to Buy Heading Into Q4 2022
If you love tech stocks, this hasn’t been your year. But that doesn’t mean you shouldn’t be looking at the top tech stocks to buy for the fourth quarter. Yeah, the sector is taking a beating, and that’s best reflected in some of the major exchange traded funds that hold tech stocks. The Technology Select Sector SPDR Fund (NYSEARCA: XLK ) is down 28% so far this year. The Invesco QQQ ETF (NASDAQ: QQQ ) suffered a similar fate, down 29%. And the much-vaunted ARK Innovation ETF (NYSEARCA: ARKK ) dropped a whopping 57%. Much of the blame rests on the economy – inflation is at its highest since the 1980s and the Federal Reserve is doggedly raising interest rates in an effort to force prices down – even at the risk of running the economy into a recession. The sector recently had its worst two-week stretch since the beginning of the Covid-19 pandemic as the Fed hiked rates by another three-quarters of a percentage point. On top of that, tech companies that rely heavily on imports are being hurt by a stronger U.S. dollar because U.S. products are more expensive overseas.