Tech Sector Now Decently Undervalued
We examine how this sector handled the market turmoil and what to expect.
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Mentioned: ServiceNow Inc (NOW)
, Palo Alto Networks Inc (PANW)
, Okta Inc (OKTA)
, CrowdStrike Holdings Inc (CRWD)
, Salesforce.com Inc (CRM)
, Tyler Technologies Inc (TYL)
, Microsoft Corp (MSFT)
, Micron Technology Inc (MU)
| Editor’s note: Read the latest on how the coronavirus is rattling the markets and what investors can do to navigate it. |
Brian Colello: Looking at technology as of March 26, the U.S. Technology index over the past year is still up 11%. Meanwhile, the equity market is down 6%. If we look at both markets on a year-to-date basis, since Jan. 1, tech is down only 10%, whereas the equity market is down 19%, again as of March 26.
Brian Colello does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.