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Tech Stocks on Verge of a Big Breakout

The technology sector, as measured by the Select Sector SPDR Technology ETF ( XLK) has performed better than most sectors in 2018, down by just over 6%. With the majority of the big companies in the technology space such as Apple Inc. ( AAPL), Microsoft Corp. ( MSFT ), Facebook Inc. ( FB), Alphabet Inc. ( GOOGL), and Intel Corp. ( INTC) all reporting strong results, many of the concerns and overhangs, such as weak iPhone sales, have now been removed.