A lot of smaller Internet companies have begun to prove their business models and are priced at levels that are more consistent with reasonable growth rates. |
Earnings growth is strong, interest rates are low, and the environment is positive for stocks. The market is shrugging off the fourth-quarter GDP number as little more than a blip on the radar screen. |
Pessimism about the short term has created opportunity. |
Some investors are waiting for economic confirmation so they can purchase tech stocks, but by the time you get the confirmation, you've already missed out on most of the rally. |
The heaviest weight on the shoulders of investors shying away from the sector is the rise in oil prices potentially crimping consumer spending. |
We believe you could reasonably expect 10%. We don't see anything that would change the long-term numbers. |
We don't see the type of value in the sector that we saw six or seven months ago. |