XLK's Winning Streak: The Technology Select Sector SPDR ETF (XLK) has achieved 12 consecutive gains, marking its second-longest winning streak since 1999, with the longest being 13 days in February 2017.
Historical Context: The current streak is not unprecedented, as it mirrors past performance trends, particularly the strong recovery following significant declines, suggesting that while the streak may end, the long-term trend could remain positive.
Broader Market Performance: The rally in the tech sector is not solely driven by large-cap stocks; smaller and equal-weight tech ETFs have outperformed XLK, indicating a broad-based strength across the sector.
Future Outlook: Following a significant decline earlier this year, the current winning streak may set the stage for further gains, although the path to higher levels is expected to involve some volatility, similar to patterns observed in 2020.
Wall Street analysts forecast PSCT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSCT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast PSCT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSCT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 62.579
Low
Averages
High
Current: 62.579
Low
Averages
High
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
