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The tech heavy Nasdaq Composite has gained 7.4% over the past three months to hit its all-time high on September 7. The broader S&P 500 index gained 5.3% over this period. Moreover, the Technology Select Sector SPDR Fund (XLK) gained 38.7% over the past year compared to the broader SPDR S&P 500 ETF Trust’s (SPY) 33.3% gain.
Given this backdrop, fundamentally sound tech stocks Canon Inc. (CAJ), Amkor Technology, Inc. (AMKR), and ScanSource, Inc. (SCSC) have been gaining momentum over the past few months. Currently trading above their 50-day and 200-day moving averages, these stocks appear to have plenty of upside remaining.
