Kames' Goddin: Global tech boom is 'nowhere near bubble territory'

Strong earnings in tech

The notion there is a bubble in technology company valuations around the globe is misplaced and overlooks their ability to transform the markets they operate in, writes Kames Capital's Neil Goddin.

Valuations for a number of tech companies - including the four famous FAANGs of Facebook, Amazon, Apple, Netflix and Google (now listed as Alphabet) - have soared year-to-date, with the sector the standout performer in US markets. Globally, technology stocks have also climbed sharply, with the MSCI Global Technology Index up 27.6% year-to-date, well ahead of the MSCI World return of 16%.  The gains for the sector have prompted concerns that the global technology boom has risen too far, too fast. 'Never underestimate Apple': Managers continue to back tech giant despite late iPhone X...