Technology stocks have been all the rage on Wall Street recently.
Tech has powered the Nasdaq to all-time highs, even with the coronavirus crash back in March.
But the big question for analysts is whether the surge in technology stocks is sustainable.
Valuations continue to skyrocket as the economy falters amid the coronavirus pandemic.
The S&P 500 Technology Sector SPDR ETF (NYSEARCA: XLK) — an exchange-traded fund tracking some of the biggest technology stocks — jumped more than 64% since reaching a low in March 2020.
XLK covers companies ranging from Apple Inc. (Nasdaq: AAPL) and Microsoft Corp. (Nasdaq: MSFT) to Nvidia Corp. (Nasdaq: NVDA) and PayPal Holdings Inc. (Nasdaq: PYPL).
The ETF has a 50-day moving average that’s $13 above the 200-day moving average, which is a bullish signal.
What’s more is that its one-year gains are 45.5% — outpacing the S&P 500’s gains of 16.8%.
Technology ETF Soars to New Heights
In this episode of The Bull & The Bear, host Matthew Clark talks with Money & Markets Chief Investment Strategist Adam O’Dell and contributor Charles Sizemore about three technology sector stocks.
They’ll examine what each of these three companies do and how they’ve performed recently.
What’s even better is you’ll get insight on what you should do with these three companies — if you are thinking about buying or already have them in your portfolio.
Remember, knowing the data and the details about a specific company helps you determine whether it is worth investing in.
That’s why we do the work for you by looking that these specific stocks and give our analysis on each one.
The Bull & The Bear
Led by Adam and a team of finance journalists, traders and experts, Money & Markets gives you the information you need to protect your nest egg, grow your wealth and safeguard your financial well-being.
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Matt Clark is the research analyst for Money & Markets. He’s the host of our podcast, The Bull & The Bear, as well as the Marijuana Market Update. Before joining the team, he spent 25 years as an investigative journalist and editor — covering everything from politics to business.