NEW YORK, NY / ACCESSWIRE / January 27, 2017 / The Technology sector was the largest gainer in the S&P 500 Index in 2016 and that rally has continued into 2017. The tech-focused Nasdaq Composite Index has risen approximately 5.05 percent year-to-date, compared to a gain of 1.71 percent for the Dow Jones Industrial Average. The S&P 500 Index has gained 2.58 percent in 2017, with the S&P 500 Information Technology Sector up 5.5 percent.

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What Some Analysts' Are Saying:

"The tech rally is firmly in place," said Tim Bajarin, president of market researcher Creative Strategies. "Wall Street is coming to grips about how technology impacts every aspect of our lives and is critical to the success of business."

"Technology is becoming the fundamental architecture of next-generation growth, artificial intelligence, streaming movies and television, vehicles, communication, mobile, databases," Bajarin said. "Technology is vital to growth. Tech is not just a passing fancy, and Wall Street recognizes that."

"Tech will continue to lead almost all sectors in terms of revenue, profit and customer growth," said Stephen Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy. "Tech makes products and services for homes, schools, offices, retail, cars, and those are needed worldwide."

Seagate Technology PLC (NASDAQ: STX)

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Seagate Technology's shares gained 2.88 percent to close at $43.90 a share Thursday. The stock traded between $42.62 and $44.79 on volume of 14.71 million shares traded. The company reported GAAP earnings of $297 million or $1.00 a share and adjusted earnings of $412 million or $1.38 a share on revenues of $2.89 billion for the second quarter of fiscal 2017. Analysts' expectations had called for adjusted earnings of $1.08 a share on revenues of $2.83 billion, according to analysts' surveyed by FactSet. On Seagate's earnings call the company forecasted revenues of $2.7 billion for the current quarter.

"Looking ahead, we are optimistic about the long-term opportunities for Seagate's business as enterprises and consumers embrace and benefit from the shift of storage to cloud and mobile applications. Seagate is well positioned to work with the leaders in this digital transformation with a broad market-leading storage solution portfolio." said Steve Luczo, Seagate's Chairman and CEO, in the quarterly earnings news release.

Micron Technology, Inc. (NASDAQ: MU)

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Micron Technology's shares declined 0.17 percent to close at $23.52 a share Thursday. The stock traded between $23.29 and $23.99 on volume of 19.38 million shares traded. On December 21, 2016, the company reported revenues were $3.97 billion for the first quarter of fiscal 2017, an increase of 23 percent when compared to the previous quarter and an increase of 19 percent when compared to the comparable quarter a year ago. The spike in revenue was attributed to a 18 percent and 26 percent increase in DRAM and trade NAND sales volumes. The company will host an analyst conference on February 2, 2017 at 9.00 a.m. MT to discuss future events or future financial performance of the company and the industry.

"Positive market momentum, driven by favorable demand trends and limited industry supply, produced solid results for our first quarter," said Micron CEO Mark Durcan. "We continue to make significant progress on our key technology and product initiatives, and we are pleased to have closed the Inotera acquisition on December 6, 2016, which we expect to further improve Micron's strategic position and financial results."

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