Tech Stocks Crush the Market in 2013…Despite Gigantic Laggards
Courtesy of Joshua M Brown, The Reformed Broker
Below is a chart of the year-to-date performance of all US stocks and US-listed ADRs by sector.
Tech stocks have just been out of this world in 2013, now enjoying a 47% gain as we head into the last two months of the year.
You should be aware that this triumph was accomplished without the help of some of the largest tech stocks in the indices. Apple, with its world-beating $472 billion market cap, is actually down .64% year-to-date through Friday. Oracle is only up 1%, Samsung up just 7% and IBM is actually down (!) 5% on the year.
Getting it done for the tech sector this year are the big caps Google (up 45%), Microsoft (up 35%) and, of course, the resurgent Facebook, up an astonishing 86% since the year began.
Data source: Morningstar
