Apple and Other Big Tech Stocks See Gains Despite Bank Blowups. Here's Why.

Apple and Other Big Tech Stocks See Gains Despite Bank Blowups. Here’s Why.

by

SVB Financial


‘s troubles might have kicked off the latest round of stock market woes, but despite the lender’s ties to Silicon Valley, the tech sector has been remarkably resilient during the selloff.

That’s evident any way you slice it. Over the past five trading days through Thursday’s close, the S&P 500 is basically at break-even, while the

Nasdaq Composite


has jumped more than 4%. The tech-stock index has climbed nearly 16% year to date, helped by its January rally, compared with just over 3% for the

S&P 500