Is Big Tech Back? After a sharply disappointing performance in 2022,

tech stocks are roaring back. But is the latest revival just a short term blip

or is a new growth phase ahead for the tech sector?

If you look at the tech sector of companies have

reported so far over 75% of them have beaten earnings. If we continue at this

rate through the rest of this quarter, this will be one of the strongest quarters of tech results in the 20-plus

years of data history that we have. I'm Allison Nathan and this is Goldman Sachs exchanges. is.

To help break down the sector's performance and outlook,

I'm sitting down with Ben Snyder, a senior strategist in

Goldman Sachs research and Peter Callahan who covers the tech sector for

global banking and markets. Ben, Peter, welcome back to the program.

Good to be here. Thanks for having us. So let's first talk about the tech sector's

performance this year. Where are we now compared with last year in terms of

performance? Ben maybe start us off. It's amazing this year has been almost a

mirror image reversal of last year.

So last year the S&P was down 18% for the year. Tech was down 28%.

So one of the worst sectors in the market lag the market by more than 10 percentage points.

This year it's been a volatile market but the S&P is up roughly 8-9 percent and the tech sector is up more than 20 percent.

And it's one of the best sectors in the market.

And then of course if you look at the biggest tech stocks,

the ones that everyone focuses on all the time,

it's the same mirror image, just even more extreme.

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