It looks like the tech stock rally isn’t over yet. Far from it. “Tech’s become the answer for everything. It’s the play for growth ideas, it’s the play for a solid fundamental growth story, and the play for rising interest rates,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC recently.  

He added: “Technology is one of the best sectors against rising yields, not just recently but historically.” That’s good news given the recent bout of Fed tightening. Fed officials raised interest rates by a quarter point for the second time this year and upgraded their median forecast to four total increases in 2018 on June 13.