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By: Dennis Puri, Portfolio Manager, Hunt Lane Capital

Technology stocks have been volatile of late due to macro-economic concerns and a not surprising pullback after a strong 2020. Certainly, there still exist pockets of hyper valuation that continue to settle. However, the retreat in stock prices has now created an enviable investment opportunity in world-beating technology companies.

A newly formed business selling apparel in 2021 designs its jeans with feedback from social media, hires and manages its workforce using cloud-based human resources software, targets new customers using personalized digital ads, sells these jeans to online consumers directly, and accepts digital payments instantly. Large competitors must respond to upstarts like these by investing in the same technology to transform aging business processes, cut costs and speed up innovation. The pandemic made it clear that new and existing businesses must operate using these new platforms, or they will not survive. Our conversations with businesses of all sizes points squarely to an accelerated pace of digital transformation post-pandemic.

This digital transformation is not cyclical. We are in the midst of what can only be described as a technology renaissance, offering enormous growth potential over our lifetimes. This generational shift toward cloud computing, digital advertising, e-commerce, and digital financial services is driving value creation for both consumers and businesses. As......................

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