"Tech Is Good, But It's No Longer Extraordinary"

After a stellar run the technology sector looks fully valued, says Margaret Vitrano, manager of the Legg Mason ClearBridge US Large Cap Growth fund

Holly Black 13 June, 2019 | 2:53PM
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“This time it’s different” is a dangerous phrase in investment, but Margaret Vitrano, manager of the Legg Mason ClearBridge US Large Cap Growth fund, is adamant there are fundamental differences between the tech companies of today and those which crashed the market when the dotcom bubble burst at the turn of the century.

“Back then, companies had users and user growth but they weren’t making any money. The difference now is that businesses such as Google and Amazon are very profitable,” says Vitrano.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Advance Auto Parts Inc215.43 USD0.00Rating
Alphabet Inc Class C2,833.50 USD0.00Rating
Amazon.com Inc3,409.02 USD0.00Rating
Apple Inc144.84 USD0.00Rating
Facebook Inc A324.76 USD0.00Rating
Legg Mason CB US Lg Cp Gr X GBP Acc286.75 GBP0.41Rating
Nutanix Inc A35.05 USD0.00
NVIDIA Corp218.62 USD0.00Rating
Visa Inc Class A230.99 USD0.00Rating

About Author

Holly Black  is Senior Editor, Morningstar.co.uk