Shortly after the March lows, we wrote a story about the tech led rally. In the piece, we pointed out which tech stocks were leading and which were lagging (read the March 25 story here). The Nasdaq is now up 26.7% for the year. The S&P Tech Sector is up 36.5% and the Nasdaq 100 is up 33.7% YTD.
Now, as one of our readers wrote in, the story has changed. The companies in the S&P Tech Sector that were up more than 20% YTD as of March 25 have gained an average 25.5% since then. The companies that were down 10% or more YTD in March have gained an average of 73.3% (see details below).
Earlier this week, B. Hogan of Pennsylvania sent the following note to CNBC By the Numbers:
"You should update this article. It would be interesting to do a then and now compare since the market came back.
For example (because of your article) I started buying UIS at $0.44. After some research I found it to be oversold, struggling for sure but in an interesting position with new technology for cloud computing and real turnaround plan. It has paid off handsomely. The stock is now at $2.25…..
511% since March is pretty good don’t you think."
Mr. Hogan did what he was supposed to do - he used the CNBC By the Numbers Blogas a source for idea generation. He did not simply buy the stocks mentioned in the post, but then proceeded to do additional homework to assess whether the value at the time was justified. Good work!
Some of the biggest gainers in addition to Unisys include Tyco Electronics and Jabil Circuit . Of course on a YTD basis, the March leaders still are ahead, but taking profits and reallocating funds could generate even higher returns. Here are the stocks that were leading and lagging on March 25 and where they are today.
S&P Tech Leaders on March 25