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

Opportunities now most common in software and online media.

Sep 30, 2019

Mentioned: VMware Inc (VMW) , Palo Alto Networks Inc (PANW) , Intel Corp (INTC) , Microchip Technology Inc (MCHP)

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

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

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