Goldman Sachs: Tech Buying After 50‑Year Lull

Goldman Sachs strategists say tech sector is attractively valued after its worst relative underperformance since early 1970s.
PEG ratio for global IT now below broader market and forward P/E is lower than Consumer Discretionary, Staples, and Industrials.
Analysts expect IT EPS to grow 44% in Q1 2026, contributing 87% of S&P 500 EPS growth, with AI infrastructure adding ~40% boost.
Current top tech firms trade at ~20x two‑year forward P/E, less than half the ~52x peak during the 2000 dot‑com bubble.