ALU, like most of the Tech Sector, has enjoyed a solid 2023, advancing +26% year-to-date, but again, the last few months have proved disappointing as the stocks corrected 21% after an aggressive drive higher following an impressive result in August. We like this software business, but it can still fall victim to the vagaries of market sentiment towards individual sectors. Conversely, APA Group (APA) has fallen to 22% this year, making it an excellent defensive play aided by a forecasted 6.7% yield over the next 12 months.
- Similarly, we are watching the elastic band between ALU and APA carefully into Christmas.
MM is considering switching from ALU to APA
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