We believe as M&A gathers momentum the smaller tech stocks will play some performance catch up on their big brothers such as Apple (AAPL US), Amazon (AMZN US) and Alphabet (GOOGL US). A simple deduction on the fundamental side as suitors usually underperform their prey in the stock market which in this case is supported nicely by the technical picture hence MM is long the BetaShares ASX200 Tech ETF in our Global Macro Portfolio – our target is still over 10% higher for this local tech ETF.
MM believes the ASX200 tech sector will outperform its US peers over the next 6-12 months
