A tech sector not exposed to tariffs, trade wars or domestic political scrutiny sounds almost too good to be true. At current valuations, it just might be. Investors have embraced cloud software stocks with gusto this year. A group of 50 “pure-play” software-as-a-service, or SaaS, vendors tracked by KeyBanc Capital Markets are up nearly 32% for the year to date. That is well ahead of any other tech subsector and notably above even the 21% gain for the S&P 500’s Software and Services Group, comprised mostly of larger, more...

Source: Wall Street Journal June 05, 2019 11:03 UTC