Investing has significantly changed in the last 20 years. At the turn of the century, technology was considered a speculative investment sector while banks were the reliable blue-chip stocks. Coming out of the dot-com bubble, very few people would have guessed that 20 years later, the five largest companies in the U.S. would all be technology companies.
It could be because of this still-common belief that many income investors seem to ignore the tech sector — to their own detriment. Granted, technology companies are not known for high dividend yields, but their cash-flow-rich business models have supported years of dividend increases.