Mega-companies like Meta, Apple, Amazon, Netflix, and Google struggle to make a comeback after a tough year for the economy.
Supply chains and other resourceful economical factors play a key role in bullish tech stocks since the start. The rate of inflation has peaked in mid-June of 2022 and still is significantly higher the previous years due to political and economical mayhem in past months.
Chip shortages around the globe continue to cause concern for Apple as they consider manufacturing Apple components in America rather than China.
China's tension with Taiwan, one of the largest chip manufacturers, has made way for massive opportunity for up and coming chip companies as well as chip giants such as Nvidia.
Investors consider cutting back on FAANG stocks as profitability has become significantly low in recent months. Companies such as Meta have shed more than 65% of stock in the past year due to lower volumes in advertising and usage.