Bulls See Legs in Tech-Stock Rally
Technology stocks have been atop the crest of the recent stock rally, and many investors say they remain bullish on the sector’s long-term growth trends.
There certainly is ample reason for the sentiment. The tech-heavy Nasdaq Composite is off to its best start to any year since 2000, and last week briefly rose above 3000 for the first time since the dot-com stock bubble burst in late 2000. Tech stocks are this year’s best-performing sector in the Standard & Poor’s 500-stock index, up 15 percent, compared with an 8 percent gain in the broader market. The tech sector rose in line with the broader market Thursday. The Nasdaq and S&P were up 0.7% in recent trading.
