Investors are plugging into technology stocks this year, hoping there’s even more juice left in a sector that enjoyed strong gains alongside a broad equity market rally last year.
Technology was the most popular sector for investments among global fund managers in January, according to recent survey by Bank of America Merrill Lynch, with a net 42% of investors overweight in the sector. The survey covered 234 fund managers with $653 billion in assets under management. The S&P 500 information technology sector index is also up 18.4% over the last 12 months, more than the S&P 500 overall, which rose 16% over that period.