Tech Up on Momentum Bets -- Tech Roundup - MarketWatch

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Shares of technology companies rose as upward momentum continued to lure investors into the sector.

The SPDR Select Sector Technology exchange-traded fund, which tracks the tech industry group of the S&P 500, has risen by 57% for the year to date, setting it up for the biggest annual gain since the Dotcom boom year of 1999. Typically, a year of outsized gains such as 2023 is followed by another positive year for the stock market, said Quincy Krosby, chief global strategist at brokerage LPL Financial.

Apple's widening effort to turn the smartwatch from a luxury timepiece into the ultimate all-in-one medical device is taking it into territory that is legally treacherous as well as potentially profitable. Apple Chinese rivals Xiaomi and Huawei have launched smart cars, far ahead of the long-anticipated Apple Car.

Write to Rob Curran at rob.curran@dowjones.com

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