iShares Global Tech ETF outperformed S&P 500 in 2023

CNBC February 12, 2024, 01:00 AM UTC

Summary: In 2023, the iShares Global Tech ETF had over 50% returns, outperforming the S & P 500's 24%. In 2024, the ETF has seen a nearly 5% increase year-to-date. Citi is optimistic about the tech sector, particularly in China, where it expects a mild cyclical recovery. Citi also sees potential gains for global stocks, with the MSCI AC World having a 5% potential upside by the end of the year. Citi's top "high-conviction" tech stock picks include Arista Networks.

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