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Though the Federal Reserve’s intention to raise the benchmark interest rates next year could mar the tech industry’s growth, the industry is well-positioned for solid long-term growth as businesses aggressively adopt advanced technologies to stay ahead of the race in this digital era.
While it is challenging to select the best stock in the crowded tech space considering the possibility of a sell-off in the near term, investors looking to capitalize on the industry’s growth in a less risky way could bet on quality ETFs exposed to tech stocks. To that end, Vanguard Information Technology Index Fund ETF Shares (VGT), First Trust Dow Jones Internet Index Fund (FDN), Global X Cloud Computing ETF (CLOU), and Innovator ETFs Trust – Innovator IBD 50 ETF (FFTY) could be solid bets now.
