Values and Opportunity in Tech
Leuthold's Doug Ramsey, Ariel's Charlie Bobrinskoy, and Tom Forester of Forester Value comment on the prospects for the tech sector, including Microsoft's future in the 'cloud' and Cisco's recent drubbing.
Dorsey: Another sector that shows up I think fairly prominently in both [Tom's and Charlie's] portfolios is technology, especially the mega-cap names, so IBM, Microsoft are in both your portfolios. Tom you're also own Oracle and I think HP as well.
So, again it's fascinating, if you roll the clock back 10 years, and these were all companies trading at utter nosebleed valuations that had one thing on their mind, which was grow, grow, grow, grow, grow. And now you're seeing them maturing and going into mid-life crisis and the valuations associated with that.
Pat Dorsey does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.