Bay Area tech stocks rule the investment roost

The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite Index have been setting records during 2017, but so far this year, Bay Area technology stocks have outpaced them all.

The SV 150 Index during 2017 has soared 23.2 percent, according to this news organization’s databases that track the index. The SV 150 consists of the 150 largest public technology and biotech firms headquartered in the Bay Area.

That’s slightly ahead of the Philadelphia Stock Exchange Semiconductor Index, which is up 22 percent this year to date.

What’s more, the SV 150 Index’s performance so far in 2017 is well ahead of the blue-chip Dow, up 7.2 percent; the broad-based S&P 500, up 8.8 percent; and the tech-focused Nasdaq, up 17 percent.

Why are Bay Area tech stocks looking so good compared to their peers? One big reason: The SV 150 Index is bolstered by some of the household names of tech such as Cupertino-based Apple, Mountain View-based Google parent Alphabet; and Menlo Park-based Facebook.

During 2017 to this point, Apple has soared 32.9 percent, Alphabet has rocketed higher by 26.7 percent, and Facebook has jumped 33.5 percent. Rounding out the five largest tech companies in the Bay Area, Redwood City-based Oracle is up 19.4 percent and Santa Clara-based Intel, a relative laggard, is up 0.2 percent.

Among the rest of the top 10 tech companies in the SV 150: San Jose-based Cisco Systems is up 5.1 percent; Santa Clara-based Nvidia has zoomed higher by 38.7 percent; Foster City-based Gilead Systems has tumbled 8.6 percent; San Jose-based Adobe Systems has hopped 39.5 percent higher; and Los Gatos-based Netflix is up 33.3 percent.

Other well-known Bay Area tech companies: San Francisco-based Salesforce has jumped 33.5 percent; San Jose-based eBay is up 19.7 percent;and Sunnyvale-based Yahoo, which has agreed to sell itself, is up 30.9 percent.

 

Photo: The Bill Graham Civic Auditorium is decorated for an Apple media event on Sept. 9, 2015, in San Francisco. (Karl Mondon/Bay Area News Group)

 

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