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So far this year the S&P 500 has only declined by 1.9%. But its information-technology sector is down 7.5%. And its consumer-discretionary sector, which includes companies such as Amazon.com Inc.

When it comes to up-and-coming stocks, it's easy to get wide-eyed over impressive short-term performances. After all, everyone dreams of getting a piece of the next disruptor like Apple Inc.