Consumers are Still Confident in Technology
Shares of Amazon have surged about 50 percent year-to-date, while Apple is up 30 percent. Google (NASDAQ:GOOG) shares have increased more than 11 percent and Microsoft (NASDAQ:MSFT) is up a modest 5 percent after rallying above $32 earlier in the year. However, some tech names such as Dell (NASDAQ:DELL) and Hewlett-Packard (NYSE:HPQ) are sitting on double digit losses as consumers shift towards more portable devices.
The CEA report echoes comScore data that shows technology categories as some of the best growing areas in the marketplace. ComScore reports, “The top-gaining category for the season-to-date is Digital Content & Subscriptions, predominantly comprised of digital book, music and video downloads, which has grown 22 percent versus year ago. Toys ranks second with a growth rate of 18 percent, followed by Video Game Consoles & Accessories (up 15 percent). Consumer Electronics currently ranks fourth (up 15 percent) on the strength of smartphone sales, while Computer Hardware rounds out the top five (up 14 percent) on the strength of tablet sales.”
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