Information technology stocks grabbed the spotlight this week as Wall Street digested earnings reports from major companies, including Microsoft (MSFT [https://seekingalpha.com/symbol/MSFT]), Intel (INTC [https://seekingalpha.com/symbol/INTC]), and Sandisk (SNDK [https://seekingalpha.com/symbol/SNDK]). The information technology sector (NYSEARCA:XLK [https://seekingalpha.com/symbol/XLK#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) gained nearly 31% so far this year, outperforming about a 13% increase in the broader S&P 500 Index. In this week's earnings recap, 22 tickers reported results, out of which 21 companies reported earnings beats and 20 beat revenue expectations.
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