Tech stocks are having a happy new year so far in 2017.
The S&P 500 Information Technology Sector has gained nearly 12.5% since January, making it the best-performing sector over the past three months. By comparison, the Nasdaq and the Dow Jones Industrial Average have gained 9.8% and 4.5%, respectively, year to date.
Stocks in general have benefited from the recent "Trump rally," which pushed stocks higher during the first three months of the year. Despite some bouts of volatility, such as the Dow posting its longest losing-streak since 2011, the quarter was mostly marked by gains. In February, the Dow closed at an all-time high for a record-setting 12 days straight.
Amid broader economic uncertainty, investors have been turning to internet and technology companies, which are less sensitive to tax cuts and changes in interest rates and are expected to benefit from de-regulatory moves and lower corporate taxes, particularly on cash held overseas.
But don't look to FANG ( Facebook (FB) , Amazon (AMZN) , Netflix (NFLX) and Alphabet's (GOOGL) Google) stocks to be the market leaders; instead the quarter's biggest gainers were semiconductor companies, which were largely driven higher by strong earnings results. The big exception was chip giant Qualcomm (QCOM) , which was the worst-performing tech stock on the S&P 500 in the first quarter, falling 11.6% amid concerns about its licensing business and increasing competition in the mobile chip market.
Here's a look at the five biggest gainers on the S&P's Information Technology sector in 2017's first quarter:
5. Symantec (SYMC)
Q1 Stock Performance: +28.8%
Market cap: $18.9 billion
The Mountain View, CA-based company's stock gained on the back of its earnings report in early February, on which it beat on both its top and bottom line. During the quarter, Symantec also completed its $2.3 billion acquisition of identity theft protection services company LifeLock.