Chipmakers, cloud-computing sellers and even credit card payment companies will have a greater chance to stand out in the information technology sector next month following the largest-ever shakeup of Wall Street`s industry classification system.

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In a reorganization spanning three sectors, none of the so-called FANG high-growth stocks - Facebook , Amazon.com https://reut.rs/2MtpV47

Graphic: Future S&P 500 IT Index - https://reut.rs/2MrVmfi

Even without some of its highest-profile members, the technology sector will boast companies with track records for earnings growth and stock performance.

Share prices of Visa and Mastercard, not typically viewed as tech companies, in 2018 have surged 23 percent and 34 percent, respectively.

The S&P 500 tech sector under its future configuration would have gained 18 percent so far in 2018, outperforming the 16 percent rise under its current configuration, according to Palfrey.

In its future configuration, the S&P 500 tech sector is currently trading at about 18 times expected earnings, compared to 19 times earnings with its current constituents.

Graphic: S&P 500 tech: New vs Old - https://reut.rs/2MqQMOy

Following the GICS restructure, tech will account for 21 percent of the S&P 500, compared to 26 percent currently, according to Thomson Reuters data.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)