5 Technology Stocks That Have Crushed Nasdaq In 2019
Zacks Investment Research | Dec 16, 2019 08:50PM ET
The tech-laden Nasdaq Composite (IXIC) has been one of the top-performing indices in 2019, with more than 32% return as of Dec 16.
Robust adoption of cloud computing solutions amid ongoing digital transformation of enterprises, driven by growing infusion of AI and ML technologies, has been driving the technology stocks.
Further, continuous innovation in electronic devices and major breakthrough developments has led to solid adoption of wearables and smart-connectivity solutions, including smart speakers and virtual reality/ augmented reality (VR/AR) devices.
Additionally, technical advancement in the telecommunication sector on accelerated deployment of 5G technology and strong efforts toward modification in Internet infrastructure are acting as tailwinds.
Tech Stocks Beating Trade War Woes
Markedly, Select Sector SPDR Technology ETF (XLK) has gained 47.1% year to date, compared with the S&P 500 composite’s rally of 28.7%.
Despite the heightening uncertainty owing to recession rumors, the U.S.-China trade war, and Brexit-related volatility, the aforesaid factors present significant opportunities for technology investors in 2020.
In fact, PC shipments have improved in the Zacks Investment Research
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