Tech savvy companies outside the tech space are creating opportunities that are not yet fully understood, say Capital Group’s experts
A growing number of non-tech companies are using technology to shake up traditional industries, driving change and investment opportunity in a variety of sectors.
So much so that global company spending on digital transformation is expected to hit US$2.4 trillion by 2024, according to Statista.
With FAANG (Facebook, Amazon, Apple, Netflix and Google) stocks running at high valuations and attracting regulatory scrutiny, is it time for tech investors to start looking at tech-savvy companies in other sectors?
Portfolio manager Anne-Marie Peterson thinks so. "Today all companies are tech companies," she says. "Established companies are using tech to transform their businesses, creating significant investment opportunity. And I don't think these opportunities are fully understood yet." So what examples are there of old-economy companies harnessing the power of new technology?
Click here to read the full article and explore examples from key sectors such as Industrials and Manufacturing. The Future Forward hub is brought to you by Investment Week, Professional Adviser and Capital Group.