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This is evidenced by the iShares U.S. Technology ETF’s (IYW) 9% returns over the past month compared to the SPDR S&P 500 Trust ETF’s (SPY) 3.2% gains. Also, the tech-heavy Nasdaq Composite gained 12.5% year-to-date to hit its 14,649.11 all-time high in the last trading session.
Given investors’ bullish outlook for the tech industry amid rapid digitization in almost every sector, Wall Street analysts expect popular tech stocks Uber Technologies, Inc. (NYSE:UBER), Micron Technology, Inc. (NASDAQ:MU), and Pure Storage, Inc. (PSTG) to gain more than 35% in the near-term.
