Thursday, July 24, 2014

Old Tech Comes Back

We are in the middle of a bit of a high-tech boom: The S&P 500 tech sector has risen 8.5 percent this year, outperforming not only the larger S&P but the Nasdaq  and small-cap Russell 2000 as well. But this time it's not the brand-new Silicon Valley companies that are making waves.

It's the more mature, well-established tech stocks that have been leading the charge. Intel, Hewlett-Packard, Microsoft are all up by more than 20 percent on the year. Despite its mixed results yesterday, Apple has risen by 23 percent in 2014, when you adjust for its 7-for-1 split.

The best-performing of the old-tech companies this year has been Micron Technology, a Boise-based producer of semiconductors. Micron is up more than 50 percent on the year.

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