Fangs with further to go

The big tech giants have enjoyed a strong year, says professional investor Walter Price. And they're not done yet.

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

There has been a lot of caution recently surrounding the US technology market, specifically the big names in the sector. The technology sector has certainly moved higher in 2017. The share prices of Amazon, Apple and Facebook have risen by 35%, 51% and 32% respectively (in the year to 30 June). At face value, some valuations now look ambitious Amazon trades on 184 times earnings, for example. So it is understandable that investors are wary.

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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.