In fact, tech companies alone gave more positive guidance this quarter than the entire index has averaged per quarter in the last five years (42).
Companies across the index is guiding above Wall Street's estimates in record numbers, and at around 19 times expected earnings, the price doesn't ask for much more than analysts' current forecasts coming true.
In a typical quarter, analysts usually lower earnings estimates during the quarter.
The information contained in this blog post is not legal, tax, or investment advice.