Recent quarterly earnings results from U.S. technology companies have come in mostly better than expected. However, the positive earnings reports have failed to allay concerns about growth or valuations, keeping uncertainty high about the sustainability of this year’s rally in technology stocks.
The tech-heavy Nasdaq 100 Stock Index ($IUXX) (QQQ) is up nearly +2% since mid-April when results from Netflix began this earnings season, outpacing the -0.7% decline in the S&P 500 ($SPX) (SPY) over the same period.
