Investors Go All-In on Tech Giants
- Funds are most overweight in tech stocks on record: BofA
- Google and Amazon shares close in on $1000 as valuations climb
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Investment managers are doubling down on the hottest stocks of 2017 -- and it’s paying off.
Funds tracked by Bank of America Corp. own the highest percentage of technology stocks on record compared to their benchmark. It’s a sector that’s carried U.S. stocks to new highs, leading the S&P 500 Index with a nearly 20 percent gain in 2017. And it’s giving active managers a boost they haven’t seen in more than two years.