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While commodity and emerging market stocks have dominated the higher-end of the stock-performance charts this decade, if you look closely at the recent stock market correction, a massive sector rotation is occuring.Intel Corporation (NASDAQ: INTC) is up 26.7% for the year, Cisco Systems Inc (NASDAQ: CSCO) is up 15%, Oracle Corporation (NASDAQ: ORCL) is up 18%, Apple Inc (NASDAQ: AAPL) is up 61%, Google Inc (NASDAQ: GOOG) is up 11%, International Business Machines Corporation (NYSE: IBM) is up 20% and Research In Motion Limited (NASDAQ: RIMM) is up 95%, noted Eric Savitz in this yesterday's Barron's "Technology Trader." VMware Inc (NYSE: VMW), the recent IPO home run, is up 136% since beginning trading publicly.
The average technology fund is up 10% for the year, versus 3% for the S&P 500, according to Morningstar.
That is some serious food for thought. As a reminder, the great 1990's bull market ended with tech taking the lead in the latter stages of the immensely profitable run. The economy slowed in the mid-part of the 1990s and when the economy picked up, money flowed into tech and telecom. It looks like the stage might be set for a similar move this decade.
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