The top six technology stocks had an average return on investment of 352.23% according to data presented by Buy Shares. The return on investment (ROI) was recorded between September 2015 and September 2020. The research sampled the ROI of Amazon, Netflix, Microsoft, Apple, Facebook and Alphabet. From the research, Amazon had the highest ROI at 560.24% while Alphabet had the least ROI of 164.86%. The Amazon stock soared in the wake of the coronavirus pandemic with the demand for e-commerce going up. Most people turned to online shopping in fear of contracting the virus.
Buy Shares research also identified factors that will spur the growth of technology stocks in the future. According to the research: “Moving into the future, factors like slow economic growth, low inflation and low-interest rates will positively impact technology companies. However, despite favourable conditions, technology stocks are still vulnerable to a short-term correction. With the recent stock market crash due to the pandemic, the tech stocks remained resilient rallying the rest of the market.” The technology sector is mainly made up of businesses that sell goods and services in electronics, software, computers, artificial intelligence and other industries related to information technology.