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
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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 C2,836.53 USD0.63Rating
Amazon.com Inc3,416.00 USD1.06Rating
Booking Holdings Inc2,475.51 USD2.88Rating
JD.com Inc ADR76.13 USD0.28Rating
Tencent Holdings Ltd59.86 USD1.74
Tesla Inc753.64 USD0.23Rating

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.

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