
Technology stocks have outpaced the broader markets by a significant margin in the last decade. For example, the Technology ETF (XLK) has returned 654% while the S&P 500 Index is up 376% since the start of 2010.
Further, a report from Statista indicates worldwide enterprise software spending rose from $225 billion in 2009 to $605 billion in 2021. Enterprise IT spending is forecast to touch $752 billion by 2023, making companies such as Oracle (ORCL) and SAP (SAP) top bets right now.