Joshua Spencer, manager of the T. Rowe Price Global Technology Equity fund manager, provides his view on six of the biggest stocks within the technology sector today.
What is your view on divisive IBM? IBM just does not pass the test of being able to create value over a longer-term horizon. When you consider 70%-80% of its business is threatened by the new model of cloud computing, it is difficult to find a reason to own the stock. It is structurally challenged. When you look at the history of technology, the leaders from the last generation often do not make it to the next generation. If companies survive, often the financial strength is much diminished. This is what is happening with IBM. Amazon Web Services is well positioned for stronger gr...
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