Three tech stocks to profit from disruption

Technology renders old industries obsolete, and bring new industries into existence. Professional investor Walter Price picks three tech stocks that should thrive on this disruption.

Each week, aprofessional investor tells us where he'd put his money.This week:Walter Price of the Allianz Technology Trust.

Technology is disruptive. It can render old industries obsolete, and bring new industries into existence. This has frequent and sometimes controversial consequences for the labour market, but historically, where one industry has faded, another has often emerged to take its place. The car replaces the horse, which is bad news for those involved in the care of horses, but good news for nascent industries such as motels, road-side restaurants, petrol stations.

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Walter Price is the managing director and portfolio manager of the Allianz RCM Technology Fund since 1974, based in San Francisco, California. Walter graduated from Massachusetts Institute of Technology. He shares his expertise on MoneyWeek’s share tips.