Thoughts on the Market: November Edition
To the Victor Goes the Spoils.
The technology sector has outperformed in 2023, as growth and profitability came roaring back following a disappointing year in 2022, when the sector fell 29%. The focus has been on the Magnificent 7 (MAG 7) group of stocks (or 8 when Netflix is included), expanding on the FAANG acronym of 2018, with the group rising ~73% year to date.