Technology manager casts a wide net

Internet companies in China are among T. Rowe Price's picks in TD fund.

Diana Cawfield 25 February, 2016 | 6:00PM

Technology is an oasis of growth in a global economy that lacks it, says Josh Spencer, the portfolio manager of TD Science & Technology. "I believe technology is one area to drive its own growth, through innovation, new products and product cycles, as well as market-share gains," says Spencer, a member of the team responsible for the global technology strategy of Baltimore-based T. Rowe Price Associates, Inc. "I do think technology is gaining share within the economy, and I think that provides fertile opportunity."

In selecting technology stocks, Spencer says the T. Rowe Price team wants to see evidence that a company can drive a successful business model, and that it has the potential for revenue growth and good profitability.

The team avoids companies that are overly capital-intensive and that are going to struggle with cash-flow needs in the future. "I like to have companies that are self-funding," says Spencer. "Even in their early days, it's something that I shoot for."

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Alphabet Inc Class C1,485.11 USD-2.18
Amazon.com Inc2,095.97 USD-2.65
Booking Holdings Inc1,928.72 USD-2.14
JD.com Inc ADR40.42 USD-2.56
Tencent Holdings Ltd51.40 USD-1.62
Tesla Inc901.00 USD0.18

About Author

Diana Cawfield

Diana Cawfield  Diana Cawfield is an award-winning writer who has been a regular Morningstar contributor since 2000. Her numerous publication credits include the Toronto StarAdvisor's Edge and Chatelaine, as well as the Canadian Securities Institute's online educational services.