T. Rowe Price Price's Tech Fund Manager Talks Apple, Amazon And The Overall Tech Sector

by Jayson Derrick

May 6, 2016 2:13 PM | 1 min read | Make a Comment

Josh Spencer is the manager of T. Rowe Price's global technology fund. He was a guest on

CNBC's "Halftime Report" to discuss what technology stocks he is holding and why. First, Spencer said that his fund has a small position in Apple Inc. AAPL. However, he doesn't see a "big opportunity for the stock" and believes the smartphone sector is starting to mature. Even though Apple is attempting to counter the smartphone slowdown through new services, he argued there are better investment opportunities within the technology. Moving on, Spencer disclosed that Amazon.com, Inc. AMZN, is his fund's largest holding. He justified the position by stating that the company continues to "show ongoing good results" in both the retail and AWS segment. Spencer was then asked why the technology sector is experiencing some headwinds as of late. He answered that the macro environment is "challenging" and it is difficult to grow in the current environment. He suggested that investors should seek out technology companies that have a unique competitive advantage and aren't necessarily negatively exposed to poor macro trends. He continued that Tesla Motors Inc TSLA is a "terrific idea" as it is a "revolutionary company" that is "addressing an enormous market with a differentiated technology."

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Posted In: CNBC Media Josh Spencer T. Rowe Price Technology Technology Stocks

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