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S&P 500 Information Technology sector outperformed S&P 500 by 26% in 6 months to June - S&P Dow Jones

Published 13/07/2023, 18:36
Updated 13/07/2023, 18:36
© Reuters

S&P Dow Jones revealed Thursday that the S&P 500 Information Technology sector outperformed the S&P 500 by 26% over the six months ended June 30.

S&P Dow Jones' senior director of index investment strategy, Anu Ganti, said tech's outperformance, driven by mega-cap strength, has been especially notable because of its narrow breadth.

However, she noted that "in this environment, concentration concerns naturally come to mind."

Ganti said they see "a clear negative relationship" as the "tendency of tech concentration to reverse has important implications for the performance of equal-weight sector strategies."

"While apprehensions about concentration naturally bring back memories of the 1990s tech bubble alongside potential headwinds for active managers, we should note that today's Tech sector is very different from that of the 1990s," she added.

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