Tech giants confound the sceptics
Shares of our technology giants have had a challenging time over recent months, but reporting season has served to highlight the strength of these excellent businesses. While ‘relatively’ asset light, formidable cash generation from a huge and diverse customer base and rock-solid balance sheets, give many of them the attributes of value stocks of old.
Reporting season has kicked off in earnest, with all eyes on the technology giants, several of which are constituents of our Ultimate Stocks portfolio of high quality companies and covered in our update here.
Despite considerable challenges on a number of fronts, these formidable businesses are still growing fast and generating plenty of cash which is being effectively used to invest in future growth opportunities.
Elsewhere, those more directly exposed to the sharp increase in commodity…
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