Technology shares in Saudi Arabia have recorded 22% since the beginning of the year

The profits of the application and technical services sector in the Saudi stock market since the beginning of the year have reached 22%, making it the ‘growth sector’, according to the description of the financial analyst in the ‘Al -Sharq’ channel, Mohamed Zidan, especially when compared to the “Tassi” index, which only increased in the same period. The sector contains five shares, the variation of its performance according to the various sources of income for each business, but it recorded an average of 15% and 20%. Zidane expected the sector stocks to continue to achieve more profits “and any fall as a result of picking profits will be in the short term and could be an opportunity to buy.” The reasons behind high technology shares are the government’s spending in areas such as artificial intelligence and cyber security within the “Kingdom’s Vision 2030”, in addition to the beginning of reducing interest in a financial facilitation policy that will lead to a decrease in the cost of loans and helping companies finance their expansion, as Zidane claims.