With the Technology sector getting crushed lately, many are wondering why. One reason may be the fact that it has so much international revenue exposure.
Over at Bespoke Premium, yearly members have access to our International Revenues Database (sub. req.), which shows the percentage of revenues that each stock in the Russell 1,000 gets both domestically and outside of the US. We calculated the average international revenue exposure for each stock by sector and graphed the results below.
As shown, the average stock in the entire Russell 1,000 gets 29.8% of its sales outside of the US. The average Technology sector stock, however, gets 53.7% of its sales outside of the US. With European and Asian growth concerns front and center these days, it's no surprise that the sector with the most exposure to these parts of the world is taking the biggest beating.