Sectors: Technology
Hi MM,
We believe US indices are now correcting the whole advance from their 2022/3 low; importantly, it shouldn’t scare investors. We saw it before in 2022, and we will see it again in the years ahead.
Microsoft is a core holding in our international equity’s strategy, held since 2020, and we continue to believe this well diversified, relatively conservative play on technology represents exceptional value into this recent decline.
We have been fans of the digital marketplace CAR for years, as it has successfully expanded overseas. We took the opportunity to re-enter the stock when it was down last month. With Monday’s drop feeling like an exhaustion move, we are contemplating increasing our position.
Hi Guys
A quick question for you on Pro Medicus.
I note it is on your hitlist.
Following the recent sell off the PE multiple for PME has fallen from an extremely high one to an incredibly high one.
Can you please provide me some colour on your thinking as to when (and why) you may choose to take a position in this stock despite what will still very large multiple? Please note i am just trying to understand what the “tipping point” in making such an investment would be rather than making any judgement on your call.
Appreciate the help.
Cheers
Tim
The ASX-traded ATEC ETF aims to track the performance of the ASX Technology Index, with its current five largest holdings comprising Computershare (CPU), Xero (XRO), WiseTech (WTC), CAR Group (CAR), and Pro Medicus (PME), which collectively make up almost 50% of the ETF.
Domain (DHG) announced on Thursday morning that it had received a “Best & Final” offer of $4.43 per share from US-listed giant CoStar, which had originally made a $4.20 bid in late February.
Asia looks poised to take, or at least share, the technology mantle with the US, something that tariffs may slow, but they won’t stop. Moving forward, MM believes that any portfolio seeking tech and growth exposure should have both Asian and US exposure. Keeping abreast of developments across Asian markets can be challenging for subscribers, making this ETF an excellent vehicle for the region and sector.
The volatility within the US Big Tech names has been tremendous in 2025 as AI fell out of favour along with Elon Musk’s Tesla. Additionally, growth stocks have experienced significant valuation compression due to concerns that tariffs will drive the global economy into recession.
The advertising technology company reported a poor quarterly and the stock has fallen sharply – more than halving from ~$US140 to this mornings close of $US62. Digital advertising remains the future, and we are confident that one soft quarter has not broken the TTD model. This recent weakness represents a buying opportunity, irrespective of the macro backdrop.
