Over recent decades, the technology industry has advanced enormously. The sector has become indispensable for numerous industries, education, and modern life in general. The United States tech sector accounts for 35% of the total world market and is expected to reach a $1.6 trillion market value by the end of 2021.
According to Mark Haefele, chief investment officer at UBS Global Wealth Management, the global tech sector is set for earnings growth of around 15%. He added that “In our base case, we expect valuations to stabilize and for strong mid-teens earnings growth to be reflected in share prices over the next 12 months.”
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