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The technology sector posted year-over-year growth of 1.3% and quarter-over-quarter growth of 0.7% in the third quarter of 2015, but volatile currency movements significantly impacted overall results.
Services continued to remain the growth driver for tech companies, as PC and storage shipments both saw declines.
Significant transformational activities continued for tech companies in the third quarter, including spin-offs, division sales, acquisitions and restructuring.
Security issues plagued the Internet subsector while the Semiconductor space saw a major trade deal eliminating tariffs on next-generation semiconductors.
Economically the quarter was marked by continued worries in all major markets, creating uncertainty that resulted in high market volatility. The VIX Index ranged from 16.09 at the start of the quarter to 24.50 at the quarter close.