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Quarter-End Insights

Tech and Communication Services: Gravitate Toward the Moats

With these sectors trading above our fair value estimate, investors should seek firms with established economic moats to help them withstand near-term revenue and operating margin volatility. Plus, get our take on Apple Pay's impact and the ongoing wireless spectrum auction.

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  • Mid-October presented an opportunity for tech, but valuations have rebounded and there are only a handful of undervalued, albeit higher-uncertainty, stocks.
  • Apple Pay will have a ripple effect and the potential to disrupt the emerging mobile payments market.
  • The ongoing wireless spectrum auction has garnered bids in excess of $40 billion, far more than we had expected.

Peter Wahlstrom has a position in the following securities mentioned above: AAPL. Find out about Morningstar’s editorial policies.