It is a fickle world we inhabit. At the back end of Q1, the death-knell seemed to be ringing for the tech sector, with behemoths like Google, Apple and Facebook pummelled by the markets. Fast forward to today and the sector is flying high again. What is going on?
The market's apparent fickleness is due to questions over how much further tech stocks can rally, and to what extent each company's valuation reflects its true potential for growth and earnings. We believe the tech sector in Asia offers some of the best prospects, thanks to structural advantages over its peers in other regions. For a start, a high proportion of internet unicorns - large, unlisted start-ups - are owned by one of the major Asian tech behemoths: Alibaba, Baidu or Tencent. That puts the three companies at the forefront of the tech revolution, helping them to keep pace with t...
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