Q3 tech sector gainers & losers: Western Digital tops the chart, with Gartner, Fiserv among worst performers
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The third quarter was marked by renewed uncertainty regarding inflation concerns as investors grappled with shifting expectations around Federal Reserve policy.
Investor sentiment was further shaken by continued geopolitical tensions, including worries around global supply chains and rising energy prices. Still, by the
Quick Insights
The Technology Select Sector SPDR Fund ETF (XLK) rose 12% in Q3, outperforming the S&P 500 Index’s approximately 8% rise.
The Information Technology sector is expected to report the highest year-over-year earnings growth of all sectors at 20.9%, with all 6 industries in the sector projecting Y/Y growth, led by semiconductors.
Analysts attribute the rally to robust earnings growth and AI demand, not speculative excess or bubbles; valuations are reasonable, and potential rate cuts and economic growth further support the sector.
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