div > div.group > p:first-child"> The S&P 500 Software index touched its all-time high on Thursday, roaring back more than 23 percent from its Christmas Eve low. The stand-out performance is driven by the group's immunity to the China trade war which hurt other technology companies, especially chipmakers. The secular trend of cloud technology and the booming M&A activities are also boosting the sector, analysts said.
The index includes Microsoft, Autodesk, Intuit, Red Hat, Adobe and Oracle. Software giant Microsoft recently regained the crown as the world's most valuable company with $860 billion in market cap as of Thursday.
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