Technology companies, which make up the largest swath of the U.S. stock market, ...
), with iPhone maker Apple, whose results ripple through its supply chain, expected to post a 2.7% drop in earnings when it reports the following week.
Even with the disparate forecasts for the third-quarter company results, tech stocks are outshining the market broadly in 2019. Tech is “the primary growth engine of the economy,” said David Joy, chief market strategist at Ameriprise Financial in Boston. The tech sector’s strength is broad-based, including gains so far this year of about 30% or more from the four biggest industry groups by market value within the tech sector: software .SPLRCSOFW, IT services .SPLRCITCS, hardware, storage & peripherals .SPLRCCOPE and semiconductors .SPLRCSEQP.
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