Nasdaq: Recovered to the hilt

The Nasdaq is quite near to its 2007 highs and is just 2% short of that target.
It has recovered most from among all the US indices which shows that the recovery has been more in Tech stocks than in general market.

Well lets compare the NDX to the ISM services index.
ISM Services index: It is an overall indicator for the non-manufacturing sector, and is a better indicator of the relationship to GDP than the Business Activity Index alone.

The index best tell what is happening with the  services sector and  services sector is dependent on IT hardware and software way more than manufacturing.

Attached is the chart that explains