Traders are using scorching-hot tech stocks in a whole new way

Tech stocks are getting a makeover.
Though the stocks were historically a way to chase cyclical growth, investors have started to trade them as a safe, risk-averse alternative to bonds.
At the heart of the shift is the dearth of price swings in tech shares, which has been a byproduct of the sector's recent success. As the group known as FAAMG — Facebook, Apple, Amazon, Microsoft, and Google — has produced world-beating returns, their rising cash balances and a lack of market shocks