Are we heading for tech bubble take-two?

Nick Evans Technology manager, Polar Capital   Social media valuations look stretched, but this is the only area of the technology sector that is - there is no bubble. Valuations are compelling relative to growth potential and balance sheets have never been stronger. The sector is the only one with net cash providing downside support and increased M&A and buyback activity boosting earnings growth. We are in the early stages of a new technology cycle which, through highly disruptive new technologies and business models, will lead to mass production of IT and a significant s...