Technology has been the saviour of 2020. It has provided connectivity, entertainment and understanding in the face of an unknown and rapidly evolving enemy. It has been a reliable companion in a world that has become eerily unfamiliar.
Perhaps that sentiment is a little sensational, but investors agree. During a virus pandemic that shakes economic security, consumer demand and global supply chains, cash-rich data experts are the types of company we want to own. The S&P technology index has climbed 15 per cent in 2020, driving a surprising recovery in the wider S&P 500, of which the tech sector makes up a third of the market by value. In the year to date, 20 of the 93 companies in the S&P 500 technology index (not including Amazon, which is listed as a consumer goods company) have reported share price growth of more than 20 per cent.
