Government data continues to dole out bearish sound bites for financial pundits in need of gripping stories to weaken investor confidence. But other evidence suggests it’s time to shop for bargains on Wall Street. Right now there’s no better spot than in three butchered tech stocks to buy and hold for the long haul.

This week’s pair of monthly readings on the state of prices indicate that red hot inflation in 2022 hasn’t cooled down yet. The back-to-back reports came in higher-than-forecast and good for all sorts of “worst since” pronouncements from the media.

To be sure, it all sounds horrible. And at this rate, investors can brace themselves for at least a 75 basis point rate hike by the Federal Reserve, as well as headlines reading “Recession” by month’s end when the Q2 GDP data is announced.

The good news is that as a forward-looking pricing mechanism, the worst is likely baked into this year’s bear market led by all those sickly looking technology companies. Both Norman Fosback’s Recession Buy Indicator and a contested, but sneaky confirmed market rally hint at better days ahead. And that stands to be especially true for investors purchasing the following three butchered tech stocks to buy and hold today.

Ark Innovation ETF (ARKK)

Source: Charts by TradingView

If you have more than just a passing interest in the stock market, chances are you know about ARK Innovation ETF (NYSEARCA:ARKK). The exchange-traded fund is part of fund manager Ark Invest’s notorious high-octane growth and actively managed portfolios include names like Tesla (NASDAQ:TSLA), Zoom Video (NASDAQ:ZM) and Grayscale Bitcoin Trust (OTCMKTS:GBTC).

The tech stock to buy and hold made a name for itself as it rocketed higher in 2020 only to crater lower as a decided bearish shift in sentiment toward higher multiple stocks was exacerbated by inflation and the conflict in Ukraine.

But while the round turn in fortunes has turned the fund’s brash and outspoken CEO Cathie Wood into the market’s meme stock queen and many would like to completely forget about ARKK, I’m upbeat that Ark’s expert insights and aggressive investing style will make a comeback in a big way.

There’s a bit of sneaky price action to start that process today. Within the broader market’s somewhat shakier confirmed rally, ARKK is actually showing signs of a healthier uptrend emerging off its bear market low.

This past week, a slightly stronger higher high pattern was formed in this tech stock, which compares favorably to the larger-cap, tech-heavy Nasdaq. Combined with ARKK’s much deeper Covid-19 bear market, some climatic volume and a neutralized stochastics, the opportunity to purchase deeply discounted growth stock leadership beckons.

Unity Software (U)

Source: Charts by TradingView

Unity Software (NYSE:U) is a top software applications outfit that operates an interactive real-time content platform. Unity is best known within the gaming market with a roughly 60% to 70% market share of the mobile gaming market due to the platform’s ease of use, features and functionalities for content developers.

And if that success is any indication, moves into e-commerce and the metaverse, as well as architecture, design and engineering should continue to bolster the company’s positive free cash flow, and help put U stock on a path toward long-term profitability. All of this should result in a smart return for investors.

With a correction of about 85% since November, Unity’s “smallish,” large-cap valuation of just $13.40 billion and shares consolidating tightly near all-time-lows over the past several weeks with bullish indications from volume and stochastics, this battered tech stock to buy and hold is an even more attractive purchase today.

Shopify (SHOP)

Source: Charts by TradingView

Shopify’s (NYSE:SHOP) shares have been victimized by inflation, interest rate hikes, at-risk consumers and supply chain bottlenecks. Year-to-date, SHOP has shed 77%. Since last November’s split-adjusted peak of $176.29, it has lost nearly 83% of its value.

Despite the obvious bearish commitment from investors, Shopify not only commands a $38.5 billion valuation, but SHOP also remains the market’s undisputed leader in this e-commerce space. Ultimately, this tech stock isn’t some fly-by-night, one-trick pony operation.

Right now, shares can be shopped at their Covid-19 low. Investors can tap into this low all while the company enjoys a historically cheap sales multiple, solid free cashflow and a strong secular trend for digital-based retail growth, despite the pending “Recession!” headlines.

On the date of publication, Chris Tyler holds, directly or indirectly, long stock in Ark Genomic Revolution ETF (ARKG) and Grayscale Bitcoin Trust (GBTC) but no other securities mentioned in this article.