"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

tech

“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
Rating
Advance Auto Parts Inc147.70 USD-1.49
Alphabet Inc Class C1,760.74 USD-1.81
Amazon.com Inc3,168.04 USD-0.85
Apple Inc119.05 USD2.11
Facebook Inc A276.97 USD-0.30
GrubHub Inc70.34 USD0.44
Nutanix Inc A27.39 USD-2.42
NVIDIA Corp536.06 USD1.06
Visa Inc Class A210.35 USD-0.31

About Author

Holly Black  is Senior Editor, Morningstar.co.uk

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