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....
Read the full article on Seeking Alpha
For further details see:
Evergy: Buy This High-Yielding Stock And Cash In On Tech Innovation