ALU was also re-rated up ~25% after the software provider reported very strong results last month that highlighted the momentum building in their business. Their earnings were ahead of expectations for FY23, but more importantly, the composition of their earnings improved underpinning better guidance – another quality tech company delivering to shareholders that we have successfully owned in the past.
- We believe the current ~10% pullback in ALU is providing investors who are comfortable with the volatility of tech stocks an excellent buying opportunity.
MM likes ALU in the $43 region
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