Morningstar Advisor - December 2013/January 2014 - (Page 30)

Sector Rap Cloud Is the New Engine of Growth By Basili Alukos Companies that keep people connected to their devices will succeed. The computing shift from the client/server model to a device/cloud model has led to an obvious disruption of the global PC industry, which should lead to long-run declines in unit sales. But the implications of this new era are much broader. The physical location of processing and applications has swung from being distributed across servers and PCs to central locations in the cloud. Morningstar's equity analysts believe that technology companies that provide scalable and flexible solutions that are cross-platform and support multiple Internet-connected devices 30 Morningstar Advisor December/January 2014 have the highest likelihood of success. And ironically, "old-tech" companies such as Oracle ORCL and Intel INTC have been able to protect their moats by embracing this new strategy. To find out how investors can take advantage of this paradigm shift in the tech business, I sat down with a team of analysts who cover the sector and contribute to Morningstar's Technology Observer newsletter. Our discussion took place Oct. 15. Basili Alukos: What's the most important aspect investors should be aware of in the tech sector today? Grady Burkett: It's important for investors in the technology sector to delineate between the consumer technology segment and the enterprise or business technology segment. On the consumer side, we have rapid product cycles and changing consumer behaviors. Consumers are less interested in security and reliability and more interested in features and having the latest, greatest

Table of Contents for the Digital Edition of Morningstar Advisor - December 2013/January 2014

Morningstar Advisor - December 2013/January 2014
Contents
Contributors
Letter From the Editor
What’s Your Purpose?
Working for Gen Y
How to Allocate College Savings
Mobius Looks to a New Frontier
Investments á la Carte
Investment Briefs
How to Manage Bonds for Today and Tomorrow
Cloud Is the New Engine of Growth
Knowing Where to Look
Economic Vulnerability Varies by Country
Factor Investing in Emerging Markets
Following the Rules
Exploring Indexing’s Next Frontiers
Frequent Fliers
Family Blind Spots
Optimal Portfolios for the Long Run
Finding Value in a Pricey Sector
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
The Emerging-Markets Roller Coaster

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