# S & P 500 Index Information Technology shares have lagged the broader market with a 7% year-to-date loss.

*business · news · 2026-04-07 · CNBC*

## Key points

- Wells Fargo upgraded the S&P 500 technology sector to favorable from neutral after the recent pullback.
- Goldman Sachs reports tech sector valuations are now below the broader global market for expected growth.
- Valuation metrics for tech stocks have dropped to levels last seen after the early-2000s tech bust.
- Corporate AI technology spending is projected to reach $650 billion in 2024, according to Wells Fargo.

**Companies:** Goldman Sachs, Wells Fargo
**Countries:** United States

[Read the full story on CNBC](https://www.cnbc.com/2026/04/07/goldman-and-wells-fargo-say-buy-tech-stocks-its-rare-for-them-to-get-this-cheap.html)

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