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Tech Themes That Created Investing Opportunities:
Smartphones
You probably have realized by now how hard life would be if you didn’t have a smartphone. Boarding a plane? Reading a menu? Ordering a taxi or Uber? Looking for directions? Reading the newspaper? Signing forms? Good luck with that. Essentially, smartphones combined the power of processors and the internet and turned your phone into your own personal assistant, mobile encyclopedia and best friend. The smart phone set off entire industries of companies serving the sector, from app developers to all those kiosks in the mall selling phone covers. You know the company we are going to mention here, of course: Apple Inc. After the recession in 2002, Apple shares went on a 12-year tear, only declining once (46 per cent in 2008) and the company saw its stock rise from 25 cents (split adjusted) to $28 in 2014. It has, of course, increased nearly 10-fold from that level as well to today’s price.
Yes, we are going to single out a specific company here as a tech development. Tied of course to the internet, Google (now a division of holding company Alphabet Inc.) simply made the internet more usable for the world. I remember being frustrated by internet searches back in the day, and a co-worker urged me to use Google. I had never heard of it before, but suddenly the internet was there in all its glory, ready to be discovered. Google searches became so useful and pervasive that the company itself became a verb: “Just Google it,” your friends would say. Since its early days, of course, Google (I don’t think I will ever call it Alphabet) has transformed into a corporate behemoth. It has used its massive cash flow (US$105 billion annually now) to develop new products and services and/or buy all sorts of companies and products and services. It is now about a US$2.4 trillion company. It’s hard to believe that Alphabet has only been public for less than 21 years. Shares have gone from US$4.80 to about US$195 since their debut in 2004.
Artificial Intelligence
AI went mainstream in 2022 with the launch of ChatGPT. Suddenly, AI assistants could churn out entire reports on topics, write essays for students, set up vacation plans, write software code and create videos and graphics. AI usage has started to creep into everyday life, from call centres to drive-through restaurants, internet searches and data analysis. We are not quite at the home-robot stage, but we are certainly getting closer. The dawn of AI is probably a bigger technological advancement than the internet. Of course, it can’t happen without the internet, where AI gets all of its data. Again, you know the poster child of this development. Nvidia Corp., which produces the GPU chips that run AI programs, has seen its shares go from less than US10 cents in 1999, to hitting about US$129 this week. Will DeepSeek change its direction? Only time will tell, but it certainly took a big hit when the DeepSeek news came out.
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