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Feb 24, 2021

This Could Change the Way You Invest in the Tech Sector

Changes are afoot for tech companies on the US stock market. S&P Dow Jones Indices and the Global Industry Classification Standard (GICS) have announced that they will create a new sector for tech, media, and telecom companies on September 28 – the first categorization changes for tech companies since 1999.

S&P and MSCI are eliminating the current Telecoms sector, replacing it with a new subdivision called Communications Services. Communications Services will include companies providing communication platforms, as well as media operators, ultimately forming the largest sector on the S&P 500.

Additionally, the new subdivision will integrate companies from the Consumer Discretionary sector that are presently classified under the Media and Internet and Direct Marketing Retail umbrellas. Some companies listed under Information Technology will also transition to the new sector.

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The changes aim to reflect an era of immune-to-classification fluidity for some of the world’s largest tech companies – something that was foreign in 1999, during the peak of the first tech bubble. While Apple slots easily into the Technology sector and Communications Equipment industry thanks to the moneymaking machine that is the iPhone, companies like Facebook – a social network, media company, and the world’s largest news distributor, all in one – are more difficult to categorize.

The GICS hopes to better reflect the changes of the past 20 years while reminding investors where listed companies earn the bulk of their revenue. David Blitzer, S&P Dow Jones Indices index committee chairman, declared the lines between media, communications, and content to be “blurred”, admitting that “It is time to acknowledge this convergence and the overlapping services these companies provide.”

Facebook and Alphabet will both move to Communication Services from their previous tech sector categorization, with both companies’ sub-industry changing to Interactive Media and Services. Netflix will move from Consumer Discretionary to Communication (along with Disney and 21st Century Fox) while also changing sub-industry from Internet and Direct Marketing Retail to Movies and Entertainment.

The reclassification effort will affect exchange-traded funds designed to specific industries but will not require action from investors, according to investment giant Vanguard. Chris Harvey, Wells Fargo’s head of US equity and quant strategy, also posited that certain companies “may gain mindshare and potentially garner more portfolio-manager interest/dollars” as investors re-familiarize themselves with the stocks. The company estimated that only 10 percent of the S&P 500 will be influenced by the reshuffling, affecting only categorization, not index weights.

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Related Ticker: IYW

Momentum Indicator for IYW turns positive, indicating new upward trend

IYW saw its Momentum Indicator move above the 0 level on February 29, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 70 similar instances where the indicator turned positive. In of the 70 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for IYW just turned positive on March 04, 2024. Looking at past instances where IYW's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where IYW advanced for three days, in of 376 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 421 cases where IYW Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for IYW moved out of overbought territory on February 12, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 54 similar instances where the indicator moved out of overbought territory. In of the 54 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where IYW declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

IYW broke above its upper Bollinger Band on February 09, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Apple (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA), Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Broadcom (NASDAQ:AVGO), Advanced Micro Devices (NASDAQ:AMD), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM).

Industry description

The investment seeks to track the investment results of the Russell 1000 Technology RIC 22.5/45 Capped Index. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The underlying index measures the performance of the technology sector of the U.S. equity market, as defined by FTSE Russell. The fund is non-diversified.

Market Cap

The average market capitalization across the iShares US Technology ETF ETF is 169.21B. The market cap for tickers in the group ranges from 1.63B to 3.09T. MSFT holds the highest valuation in this group at 3.09T. The lowest valued company is VYX at 1.63B.

High and low price notable news

The average weekly price growth across all stocks in the iShares US Technology ETF ETF was 2%. For the same ETF, the average monthly price growth was 4%, and the average quarterly price growth was 22%. PSTG experienced the highest price growth at 34%, while DV experienced the biggest fall at -27%.

Volume

The average weekly volume growth across all stocks in the iShares US Technology ETF ETF was 29%. For the same stocks of the ETF, the average monthly volume growth was -7% and the average quarterly volume growth was 38%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 64
P/E Growth Rating: 56
Price Growth Rating: 41
SMR Rating: 64
Profit Risk Rating: 57
Seasonality Score: 26 (-100 ... +100)
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IYWDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

Category Technology

Profile
Fundamentals
Details
Category
Technology
Address
iShares Trust400 Howard StreetSan Francisco
Phone
1-800-474-2737
Web
www.ishares.com
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IYW and

Correlation & Price change

A.I.dvisor indicates that over the last year, IYW has been closely correlated with IGM. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if IYW jumps, then IGM could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To IYW
1D Price
Change %
IYW100%
-0.27%
IGM - IYW
99%
Closely correlated
+0.13%
VGT - IYW
98%
Closely correlated
+0.19%
FTEC - IYW
98%
Closely correlated
+0.09%
XLK - IYW
98%
Closely correlated
N/A
IXN - IYW
98%
Closely correlated
+0.19%
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