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Artisan's Cepukenas: A Lot to Like in the Tech Sector

Valuations are still very reasonable and understandable in the tech sector, says Artisan's Craigh Cepukenas.

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Greg Carlson: I know that with the Small Cap Fund as well as the Mid-Cap and Large-Cap Growth funds, you are finding opportunities within technology?

Craigh Cepukenas: We are finding a lot of opportunity there, and we have for several years. I mean, if you go all the way back to the tech bubble, when the tech bubble burst, a lot of interesting franchises were left behind, both on a valuation basis and just because a lot of investors were burned on the other side of that tech bubble bursting. But really, when we're looking for franchises, we're focused around the idea of the sustainability of a profit cycle, and so we find a lot of disruptive business models, a lot of innovation.

Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.