The millennial demographic is expected to outnumber the baby boomer generation, so this rising group’s spending habits will have a huge effect on the markets. For example, the millennials’ quick adoption of new technologies will help support tech companies and technology sector-related exchange traded funds.

“I’ve been positioning my fund to benefit from millennials’ spending trends,” Jean Park, Portfolio Manager, Fidelity Growth Strategies Fund and Fidelity Fund, said in a note. “While I tend to build Fidelity Growth Strategies Fund based on bottom-up stock-by-stock analysis, I recently positioned it in areas where I see secular growth trends, such as millennials’ reliance on technology.”

Park argued that the millennial generation is more technologically adept and more likely than any other group to trust technology in their everyday lives. Specifically, the strategist sees opportunities among semiconductor companies that can capitalize on millennials’ increasing adoption of technology and connectivity.

The technology sector is also to remain strong, despite the recent volatile that has deterred some investors. Fidelity Investment’s Sector Strategist Denise Chisholm pointed out that technology one of the most positive first quarter outcomes on the basis of business cycle, fundamentals, relative valuations and relative strength.

How to Gain Broad Exposure to Tech Sector

Investors interested in gaining broad exposure to the tech sector have a number options to choose from, such as the Fidelity MSCI Information Technology Index ETF (NYSEArca: FTEC), which charges barely more than 0.08% per year.

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