Technology stocks posted another strong quarter to start 2018, despite an increase in volatility toward the end of March. Large cap Technology companies remain attractive to many investors due to their ability to potentially grow earnings despite in the face of slower economic growth in the broader economy. The sector also offers income potential due to the ability to repatriate assets overseas under the recent tax plan and return that capital to shareholders through buybacks and dividends. The performance of mega cap Technology stocks has been particularly impressive. While valuations across the sector have risen over the past year, we believe the sector’s free cash flow production and profit margins continue to support its attractiveness. President Trump’s criticism of a sector leader along with the additional possibility of a trade war with China increased volatility throughout the entire market. This remains an issue we will continue to monitor closely. _____________________________
Information contained herein was obtained from recognized statistical services and other sources believed to be reliable and we therefore cannot make any representation as to its completeness or accuracy. Any statements not of a factual nature constitute opinions which are subject to change without notice.
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