Technology “good bet” for 2010

A decade after the technology bubble burst, the convergence of a number of trends is expected to drive growth throughout 2010 and beyond for the previously unloved sector, according to Fidelity International.
 
Dmitry Solomakhin, portfolio manager at Fidelity International, believes the technology sector is at the start of a number of product cycles from which investors can benefit. The key opportunities are:
 
• Mobile data - the continuing development of smart phones and mobile Internet devices and the resulting expansion and upgrades of networks;

• Recovery in IT corporate spend - the need for corporations to refresh their IT systems and, longer term, the move to ‘Cloud’ technology.
 
“We have a number of very exciting product cycles ahead of us that have either just started or are likely to start in the next year or so,” said Solomakhin.

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