Tech Valuations Tumble, but Business Software Stocks Are Cushioned by the Cloud
Tech valuations have been whipsawed by rising interest rates, steep inflation and economic uncertainty—but not so much in enterprise software. Demand is holding steady as businesses continue to reorient themselves around cloud computing and data, CIOs say.Information-technology companies including International Business Machines Corp.,
Hewlett Packard Enterprise Co.
and
Oracle Corp.
have shown resilience amid a rout in technology stocks. All three have so far…