The Aging Of The Tech Sector: The Pricing Divergence Of Young And Old Tech Companies
http://www.seekingalpha.com/article/2956166
Another gem from Damodaran. He slices up the tech sector based on company age and makes several interesting observations:
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Young tech companies are not necessarily overvalued relative to young companies in other sectors, though they tend to show earnings later.
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Analysts expect old tech (>35 years) to grow much faster than old companies in other sectors, but the reality has been the other way around.
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The tech sector in general carries much less debt than the broad market.
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Many companies that operate in markets outside of technology are often misnamed as tech companies because their product is software or technology based.
Worth a read.
Sameer