Investors’ preference for technology has reshaped the S&P 500 Index, with technology-oriented stocks now comprising nearly 50% of the index’s weighting. With artificial intelligence (AI) poised to be the next revolutionary innovation, this segment looks likely to remain a key driver of performance in 2024.
Technology-oriented stocks, or companies with a heavy reliance on technology to drive growth, represent a range of companies that span across multiple sectors within the stock market. Until a few years ago, most of these companies fell under the information technology sector in the S&P 500 before changes were made to even out the weightings in the index’s other sectors.
In a new episode of the Conversations with Commerce Trust podcast, Chief Investment Officer David Hagee discusses equity markets and the influence of the technology sector with Don McArthur, Director of Equity Research at Commerce Trust.
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David Hagee Executive Vice President, Chief Investment Officer