Seven tech stocks that can broaden your -2-
S&P 500 26.2% 19.5 5.3% 12.0% S&P 400 Mid Cap 16.5% 14.3 3.3% 11.0% Source: FactSet
The seven stocks have performed well this year and you can see that their forward P/E ratios are high relative to the indexes. West said these stocks "consistently trade at a premium to the market because of their durability of growth, high returns on capital and high free-cash-flow conversion."
"Costar is the most expensive," he said, "because of the large investment they are making in their Homes.com residential real estate service," which they are building as a competitor to Zillow Group Inc. (Z), he said.
The Buffalo Mid Cap fund has returned 25.9% this year, through Dec. 19, compared with returns of 25.4% for its benchmark, the Russell Mid Cap Growth Index, and 16.5% for the S&P 400 Mid Cap Index. For five years through Tuesday, the fund returned 93.7%, compared with returns of 91.8% for the Russell Mid Cap Growth Index and 81% for the S&P 400 Mid Cap Index.
Don't miss: This is a good time to invest in a bond fund. One manager has an advantage over his largest competitors.
-Philip van Doorn
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(END) Dow Jones Newswires
12-23-23 0730ET
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