US Tech Stocks That Could Benefit From A Lower Inflation Reset

The US Bureau of Economic Analysis is about to tweak how it measures the Fed’s preferred inflation gauge, the PCE index, and that could subtly shift how markets think about interest rates. A small downward adjustment to recent inflation readings may ease some pressure on future rate hikes, which often matters for growth oriented technology stocks with long term earnings stories. At the same time, debate around the timing and transparency of the change may keep volatility alive. This article looks at three large US tech stocks exposed to this news and explains why each could be positively affected.

Agilysys (AGYS)

Overview: Agilysys is a hospitality software company that provides cloud based property management, point of sale, payments, inventory and guest experience tools to hotels, resorts, casinos and other venues across North America, Europe, Asia-Pacific and India. Its platform connects front desk, food and beverage, leisure, reservations and loyalty functions so operators can manage operations and guest journeys in one integrated system.

Operations: Agilysys generates about US$330.3m in revenue from providing software solutions to the global hospitality industry.

Market Cap: US$2.9b

Agilysys provides exposure to hospitality focused SaaS at a time when lower rate expectations often support growth oriented software stocks. The company is shifting into subscriptions, with recent results highlighting record revenue, recurring sales and expanding margins, supported by more than 30 AI based features in development and enterprise wins beyond Marriott. That strength comes with some tension. The stock trades on a rich multiple, insiders have been selling and the business relies on external borrowing, so any slowdown in earnings or pressure on margins could affect sentiment quickly. The interest rate backdrop may be turning more supportive, so the question is whether Agilysys can deliver enough growth to justify its premium.

Agilysys has a premium valuation, but its record revenue, recurring sales and expanding margins suggest the story may not be fully priced in. See how the 4 key rewards and 1 important warning sign could change your view on what really drives this stock.

AppFolio (APPF)

Overview: AppFolio provides cloud based software for US real estate professionals, helping property managers handle accounting, leasing, maintenance, communications and workflow automation in a single platform, with tiers that range from core bookkeeping tools to advanced data and customer relationship management.

Operations: AppFolio generates about US$1.0b in revenue from its cloud based business management software and value added platforms, all from customers in the United States.

Market Cap: US$6.0b

AppFolio gives you focused exposure to the push toward AI powered automation in property management at a time when a softer interest rate outlook can support growth oriented software stocks. The company recently crossed US$1.0b in trailing 12 month revenue, raised full year guidance and reported Q2 2026 revenue of US$281.1m with net income of US$41.5m. Analysts expect strong earnings and revenue growth and see upside to current pricing. That opportunity comes with real trade offs. Profit margins have come under pressure, the P/E multiple is high and insider selling plus reliance on external borrowing underline the need for continued execution. Understanding how those growth drivers and risks balance out is crucial before deciding how AppFolio fits into a portfolio.

AppFolio’s accelerating shift to AI powered automation looks exciting, but the real story sits in how the growth, margins and premium P/E come together in the analyst forecasts for AppFolio that may be masking one crucial twist

Shopify (SHOP)

Overview: Shopify is a commerce technology company that gives merchants a single platform to run their entire business, from online and in store storefronts to payments, shipping, marketing, analytics and financing across North America and international markets.

Operations: Shopify generates about US$12.4b in revenue, primarily from its Internet Software & Services segment.

Market Cap: US$165.1b

Shopify stands out for investors who want exposure to growth oriented software that sits at the heart of global commerce. The company is shifting from a simple store builder to a full commerce operating system, with payments, AI tools and value added services that can increase merchant stickiness and transaction volume over time. Forecasts in the market point to revenue and earnings growth that outpace the broader US market, even though profit margins have softened and recent earnings declined about 17.3%. That growth comes at a rich P/E of 127x, alongside insider selling, higher funding risk and a relatively new board, which raises the bar for execution. The real opportunity is in how Shopify’s AI and ecosystem bets could reshape that risk reward balance.

Shopify’s high growth story and rich 127x P/E suggest the market may be missing how its AI and ecosystem shift could reshape the risk reward trade off. The full analyst forecasts for Shopify hints at one underappreciated pressure point investors should see before sentiment turns.

The three growth oriented technology stocks in this article are just a starting point, since the full Growth-Oriented Technology Stocks screener surfaced 29 more US tech companies with strong health and future outlook scores that could have similarly compelling stories tied to interest rate shifts. Use Simply Wall St to identify and analyze the exact catalysts, financial traits and narratives that matter to you so you can focus on the highest conviction ideas across this group.

Take Control of Your Investment Journey

If Agilysys or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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