Despite the enormous run-up in global technology stocks in the past five years - and the recent stomach-churning volatility - the market isn't repeating the dot-com euphoria of 1999 and investors would do well to remain exposed to a sector whose already steep rise may be far from done. That's the view of leading asset managers polled by Business Times this week in the wake of rising instability in the value of the world's biggest technology companies. Indeed, recent weakness in shares such as Facebook, Amazon and Tencent could signal a buying opportunity, they say. Peter Armitage, CEO of Anchor Capital, said tech companies had become the most highly valued in the world, with Apple topping the list with a market capitalisation above $870-billion (about R10-trillion). The top five companies in the US by market value - Apple, Alphabet (Google), Microsoft, Amazon and Facebook - are all tech shares. This, Armitage said, was justified. "Global tech companies have become massive businesses...
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