McCormack Technology Sector Recovery
Index
Description
The McCormack Tech
Sector Recovery index is based on the most influential stocks. It is weighted
to reflect current and forward market sentiment.
The Numbers
Index as of close of
play 26th September 2003 - 1038
|
Change period
|
Percentage Change
|
Week
|
-9.9%
|
|
Month
|
8%
|
|
3 months
|
7%
|
|
6 months
|
30%
|
|
1 Year
|
35%
|
The Comment
Despite the general
feeling that we are not yet out of the Technology Sector ‘nuclear winter’, the
Recovery Index has been in rapid ascent. Up until last week the market was up
50% on the year. This week saw a severe correction in what was, and still is,
looking like a bubble. With an average P/E of circa 30 the bubble could easily
burst. Further downward corrections look likely.
Specific Players
Microsoft continues to
look the most impressive.
Analyst sentiment
points strongly towards Sun Microsystems joining EDS as a recommended ‘Sell’.
This information is provided for general interest. It
should not be used as the basis for investment decisions.
