After a Dismal 2022, Tech is Having a Major Moment
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By embracing cost-cutting, efficiency, and a lot of other stuff Silicon Valley tended not to care about, the tech industry may have regained its first-mover advantage.
Believe it or not, the S&P 500 has seen a $2.4 trillion gain this year, and 90% of that growth is concentrated in the trading of just 20 stocks, according to the Financial Times. With persistent inflation dampening the retail sector, a lack of dealmaking subduing financial names, and banks being... well, banks, the S&P concentration shows investors have come back to Big Tech, which is suddenly behaving like the adult in the room.
Source Fool.com
