Big Tech companies look to be reaching a period of stagnation in their growth stories, Baillie Gifford's James Anderson has said, as he and Scottish Mortgage co-manager Tom Slater continue to appraise the potential upside for such stocks.
Anderson said he was "entirely cognisant" that some of the largest components of the US market today, including second-largest holding Amazon, may be seeing their runway to growth coming to a plateau, citing 2020 as having "accelerated developments" in some areas, "rather than enlarged the opportunity set". Using Amazon, which comprises 6.6% of Scottish Mortgage's portfolio, as an example, Anderson said he thought "the opportunity set has not carried on increasing to the degree to which the share price has increased". While ruling out an imminent exit of Amazon shares, Anderson said i...
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