2023 Tech sector speculation report

GANGNAM-GU, South Korea - Oct. 19, 2022 - PRLog -- In the past year traditional markets and cryptocurrency have taken a hit due to factors such as the Federal Reserve announcing an increasing amount of interest-rate hikes. With inflation at a 40-year high and the sentiment of a recession coming from many financial advisors, it is no surprise as to why investors are leaning towards recession proof stocks.

What are recession proof stocks?

Recession proof stocks are company shares that do not decline in value so extremely during a recession compared to other stocks. During previous recession eras, certain industries such as the defensive, healthcare & utilities industries have performed better than others. In the modern day with technological changes in the economy we are seeing that the tech sector may be the sector that thrives during a recession.

Speculating 2023

The tech sector is a consistently changing space and the future can only include much more growth at an exponential rate. Over the past decade, tech companies such as Netflix, Tesla, Meta and Apple have dominated the market becoming household names, but it is newer companies that are witnessing exponential growth in recent years that is unlike before such as;

1. XPENG & Rivian - electronic vehicles (EV)

2. Klarna & Stripe - Fintech & online payments

3. Alibaba & Salesforce - AI & Cloud Computing

4. SpaceX & Amazon - Space exploration

Conclusion

"We advise past and upcoming tech stocks to the majority of our existing clients at W Asset Management.  It is easy to see that tech stocks can go from start-up to billion dollar organisations in a relatively short period." Chris Lawson, head of private equity, W Asset Management, Seoul.

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