EVRG - Evergy: Buy This High-Yielding Stock And Cash In On Tech Innovation
2024-06-29 07:00:00 ET
Summary
- The technology sector has outperformed the S&P by 11% in the past month.
- Electric utilities provide an indirect way to benefit from the artificial intelligence revolution.
- Evergy is a utility with an investment-grade balance sheet that should benefit from an expanding need for electricity.
This article was coproduced with Kody Kester.
It seems like every day the technology ( XLK ) sector dominates the headlines. Given that it makes up approximately 30% of the S&P 500 index's ( SP500 ) weighting, this makes sense.
There's no doubt that technology is fueling economic growth. Not surprisingly, it also has generated outsized gains in 2023, year-to-date, and especially in the past month. Before the dip in recent days, XLK outperformed the S&P by almost 11% on a one-month basis per Seeking Alpha . According to Truist's chief market strategist, Keith Lerner, this was the most extreme level of outperformance relative to the market since 2002....
Evergy: Buy This High-Yielding Stock And Cash In On Tech Innovation