"There's clear winners and losers right now in the market," said Dan Ives, an analyst at Wedbush Securities, who thinks the biggest tech giants could still gain another 30 percent this year. "From a winner perspective, the clear spotlight [is on] tech names." While the success of the Nasdaq is the most obvious sign of the tech surge, the broad-based S&P 500 also shows the increased weight of the sector. The information technology group currently accounts for around 28 percent of the S&P 500, up from 16 percent in 2010. Shares of the electric car maker have enjoyed a meteoric rise of late, eclipsing even other tech companies, and they now trade at more than four times their level in mid-March.

Source: Standard Digital July 12, 2020 06:56 UTC