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Quarter-End Insights

Technology: Sector Looks More Expensive Than at the Beginning of 2019

Opportunities now most common in software and online media.

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Despite trade-related choppiness, the Morningstar US Technology Index is up 28% year to date as of Sept. 24, outperforming the U.S. equity market, which rose 20% over the same interval (Exhibit 1).

Despite a strong Q1, tech had a volatile Q2 and Q3. - source: Morningstar

Brian Colello does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.