The coronavirus pandemic catapulted technology into the spotlight as social distancing and lockdown measures forced individuals and businesses to rely more heavily on software as well as the internet. For investors wondering if it might be too late to hop on the technology bandwagon, global investment firm Goldman Sachs doesn’t think so.

Goldman Sachs says tech will continue to be a stellar performer in the short-term, hailing it as an “unrivaled market leader” thus far this year in a CNBC report. On the opposite end of the spectrum, Goldman Sachs forecasts that the energy sector would languish the most.

Nonetheless, Goldman Sachs underscored the strong rally the market has been having since the coronavirus pandemic took hold of the capital markets earlier this year.

“Many of our client discussions have centered on the apparent disconnect between financial assets and the economy,” noted David Kostin said in a research note. “Most institutional investors have been stunned by the juxtaposition of the sharpest GDP contraction on record with a 36% market rally, as have we.”

“But, the combination of incremental data improvement and extraordinary policy support has been sufficient to assure the forward-looking market that the earnings damage resulting from the virus will ultimately be short-lived,” he added.

As stated earlier, technology has been able to mute the effects of the pandemic as social distancing and lockdown measures are forcing people to adopt the latest tech in order to facilitate communication for personal or business use.

“As the market was falling, the sector was supported by its quality attributes, including strong balance sheets and high-profit margins, as well as the resilience of its earnings,” analysts at Goldman said.

Technology ETF Trades

Traders looking to play the bullish side of tech can use the Direxion Daily Technology Bull 3X ETF (NYSEArca: TECL). TECL seeks daily investment results of 300% of the daily performance of the Technology Select Sector Index, which includes domestic companies from the technology sector.

For broad market exposure without leverage, investors wanting a piece large cap tech action can look to the Fidelity MSCI Information Technology Index ETF (FTEC). FTEC tries to reflect the performance of the Nasdaq-100 Technology Sector Index, which consists of companies in the Nasdaq-100 Index classified as technology according to the Industry Classification Benchmark.

Other ways to get broad tech exposure include the Technology Select Sector SPDR ETF (NYSEArca: XLK). XLK tries to reflect the performance of the Technology Select Sector Index, which is comprised of technology and telecom sector of the S&P 500.

For more market trends, visit ETF Trends.