1, with the Nasdaq having risen more than 8.5% in that time, compared with a drop of 4.3% for the Dow Jones Industrial Average To be sure, outperformance in technology names isn’t exactly a new phenomenon: growth stocks have outperformed the rest of the market since Jan. Outperform the S&P 500 for 10 straight trading sessions, the longest such streak since 2017, according to an analysis by eToro’s Callie Cox. Rising roughly 4% through Wednesday’s close.

Some hard-hit semiconductor names are also lending a hand, with shares of Intel Corp. is up nearly 1.1% over the same period, having received a boost after announcing its latest round of layoffs. Shares have performed even better, gaining 6.3% so far this week, while Meta Platforms Inc. shares have risen 2.3% since markets opened on Monday, according to FactSet. Davidson who covers the technology space.Īpple Inc. “There’s a flight to quality happening in the megacap tech names,” said Tom Forte, an equity analyst at D.A.

Into the green late Wednesday afternoon as both tech-heavy indexes finished higher, while the S&P 500 and Dow Jones Industrial Average finished in the red, although well above their lows from earlier in the day. A rally in many of the biggest tech names like Apple Inc. Just as the S&P 500 briefly turned negative for the year so far. But the biggest technology and semiconductor names are outperforming, according to FactSet data, helping to constrain losses on the Nasdaq 100, represented by the Invesco QQQ ETF

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