About a year ago, I predicted that technology would beat the wider market in 2015.
And that’s just what happened.
The tech-centric Nasdaq Composite Index has gained more than 5.5% so far this year, while the S&P 500 Index declined nearly 1%.
That shouldn’t come as a surprise. As I’ve been telling you all year, various “ignition points” continue lining up to create one of the greatest tech-profit cycles of all time.
Driving this cycle is a “convergence” of trends – e-commerce, “software as a service,” online shopping and mobile advertising, to name just a few.
Together, these trends form a “New Internet Economy” worth more than $2.6 trillion.
A select group of big-cap technology players is both driving and riding these fast-moving trends.