From its low point of October 2002, the technology sector (as measured by the NASDAQ) has recoded a rise of 70 per cent. So when AMP Henderson Global Investor's head of investment strategy, Shane Oliver says technology stocks have been the star performer this year, it is something of an understatement.
The real question is: can that performance be repeated going forward?
Oliver says the outperformance was the result of three factors:
businesses in the US spending more on technology ;
companies reaching a point in the replacement cycle where they could no longer p...