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Despite the Recent Wreck, Tech ETFs Are Luring Investors This Year
Asset Management, Capital Markets
Perhaps not surprisingly, data indicate the sector analysts’ are most bullish on is technology. Over the past year, the Technology Select Sector SPDR (NYSE: XLK) and the tech-heavy PowerShares QQQ (NASDAQ: QQQ) are up 24 percent and 22.6 percent, respectively, while the S&P 500 is higher by 13.7 percent.
“With the end of the first quarter approaching, where are analysts most optimistic and pessimistic in terms of their ratings on stocks in the S&P 500? How have their views changed during the quarter?” FactSet said in a recent note. “At the sector level, analysts are most optimistic on the Information Technology (60 percent).”
Of the 10 stocks analysts are most bullish on, five are members of XLK’s roster.
XLK, the largest technology exchange-traded fund by assets, holds 73 stocks. The five XLK components analysts are overtly enthusiastic about are …
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