NCR - Technology And Communication Dashboard - Update
This article series provides a monthly dashboard of industries classified by sectors. It compares valuation and quality factors relative to their historical averages in each industry.
Executive summary
Technology has led the market from January 2019 to February 2020, and it is one of the most resilient sectors in this black swan, alongside healthcare and consumer staples. Technology, once considered a cyclical sector, seems to become a defensive one.
Computers/peripherals, communication equipment and electronic equipment are underpriced relative to historical averages in 3 valuation ratios, and above the profitability baseline measured by return on