Macro Minutes: Tech Positioning in Current Market Cycle

This month’s Macro Minutes video features Securities Research Analyst Jake Riddell who provides an update on the Info Tech sector. He reviews Tech’s performance in today’s late-cycle environment, as well as its attractive growth characteristics.

Key Points

  • With the speed of the 2020 downturn and recovery, we believe we are currently late market cycle.
  • Large cap growth stocks’ tendency to outperform late in the market cycle supports our preference for Tech stocks given the broad growth orientation of the sector.
  • While Tech bubble fears abound today, we believe they are unfounded as Tech stocks are supported by strong fundamentals – a different environment from 2000.

*The foregoing information constitutes the views of Fisher Investments based on information believed to be reliable. There can be no assurances that Fisher Investments will continue to hold these views. These views may change at any time based on new information, analysis, or reconsideration.
About Fisher Investments

Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $197 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments Private Client Group International, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 100,000 clients. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 3/31/2022)