The technology subindex in the S&P 500 has climbed 48% in 2019, putting it on pace for its best year since 2009.Apple, the most valuable publicly traded U.S. company, has gained 84%, also headed for its best performance in a decade.
Apple CEO Tim Cook arrives for Apples "The Morning Show" global premiere at Lincoln Center- David Geffen Hall on October 28, 2019 in New York.Tech stocks are about to close out their best year since the rebound from the financial crisis. With December winding down, the S&P 500 information technology index, consisting of 70 members, has gained 48% in 2019, marking the best year for the group since a 60% jump in 2009.
The difference a decade ago was that the tech index was coming off 2008, in which it plunged 44%, creating a buying opportunity and setting the stage for a so-called dead cat bounce. This time around, tech stocks dipped just 1.6% in 2018 before rallying to new heights in 2019, suggesting that the latest surge is backed by the strengthening financial position of the companies in the group and optimism for the broader economy.
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Let's legislate then. They can afford red tape.
Propelled by FED's ever expanding balance sheet.
This despite Greta Thunberg's attempt to end capitalism.
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