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Expect tech sector to remain hot in 2014

Business Technology | March 4, 2014

Love your tablet? What about your smartphone? If you do you’re not the only one: U.S. consumers love their technology. And that’s making technology companies very profitable, as a recent story by USA Today shows. That same story indicates that this love affair will continue in 2014, with tech companies continuing to see big profits.

A strong performance

The USA Today story says that in 2014 technology companies that are part of the S&P 500 index should earn a net income 9.3 percent higher than it was in 2013. This data emanates from FactSet, a firm that calculates the earnings estimates of Wall Street. This coming year, then, stands to be an improvement from 2013: In that year, tech companies only saw their earnings rise by a skimpy 1.9 percent.

Big profits

And USA Today expects tech companies to remain extremely profitable in the future. The story says that the tech sector annually ranks as one of the most profitable industries in the United States, something that the newspaper says won’t change in 2014. According to the USA Today story, the tech sector will see a profit margin of 15 percent to 16 percent this year, a healthy figure.

Not shocking

Of course, this shouldn’t be very shocking to U.S. consumers. Technology is definitely a favorite of the U.S. shopper. With the exploding popularity of both tablets and smartphones, it’s something not about to change anytime soon. So if you’re betting on which companies will have successful 2014s and beyond, look first to those that concentrate on consumer technology.


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