The next surge for tech stocks

Economically sensitive sector will benefit from the recovery, Mawer's Grayson Witcher says.

Sonita Horvitch 24 March, 2010 | 6:00PM

Grayson Witcher, portfolio manager at Mawer Investment Management Ltd., says that despite the surge in brand-name U.S. technology stocks, there is still scope for them to go higher as the U.S. and global economy continue to improve.

In 2009 the technology sector, up 62%, handily outperformed the benchmark S&P 500 Index, which was up 27%. So far in 2010, the tech sector has lagged the market benchmark.

Witcher says the technology sector is undoubtedly economically sensitive, and "you are starting to see a turnaround in the U.S. economy and renewed vigour in the global economy."

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Sonita Horvitch

Sonita Horvitch