"Consumer technology stocks led the technology sector down, and they are leading them back," Mr. Vilar said.
Stocks in the financial sector rose more than 2 percent, while industrials and consumer discretionary shares rose more than 1 percent, as did stocks of "cash rich and consumer sensitive" companies in the technology sector, Mr. Minerd said.
Other than the technology sector, the consumer economy is just b-o-r-i-n-g.
Design is now of paramount importance in the age of the connected consumer, not only in the technology sector but across all major industries — such as cars, retail and healthcare — and firms globally have to adapt accordingly or face unprecedented competition.
"Personal Capital is at the intersection of consumer technology and financial services, a sector we believe is poised for continued growth" says Jeremy Schein, a principal with Corsair Capital who will take a seat on the Personal Capital board.
This year has started off with materials, industrials, consumer discretionary and technology sectors doing well along with emerging markets and small stocks.
Editor's note: Anamitra Banerji is a partner at Foundation Capital where he focuses on investing in startups in the consumer and marketing technology sectors, including Kik, where he is an investor and sits on the board.
But the focus is part of a broader transition in the technology sector from helping consumers explore unlimited options online to telling them the best choice.
Microsoft, one of the biggest names in the technology sector, has struggled as consumers have shunned traditional PCs and laptops in favour of smartphones and tablet PCs.
Analysts said the announcement further underscored how long it might take the technology sector to recover from the slowdown in consumer buying and corporate capital spending.
