👋 About Techinvestment.com

Techinvestment.com is an Australian investor in technology companies. It was founded in March 2001 as Bunting Pty Ltd.

Over the past 20+ years our portfolio has included listed stocks and unlisted/alternative investments

🌎 Where we invest

The largest global technology companies are listed on the NASDAQ and NYSE, and so about 90.1% of our listed portfolio is invested in USA, and the 9.9% balance is invested in ASX-listed REA Group.

Our current preference for investment in USA takes into account issues such as market size and policy issues in areas of economic, monetary, government fiscal (incl taxation) and debt directions that impact on the business environment and exchange rates.

Right now these drivers continue to favour our current investment preference for large innovative technology companies addressing global markets.

How our NASDAQ/NYSE portfolio has been doing

📈 NASDAQ/NYSE portfolio indices in USD and AUD currencies [28 Dec 2012 = 1.00]

🔎 What's in our tech investment portfolio

📈 NASDAQ/NYSE/ASX listed stocks as at 21 Feb 2024

How our NASDAQ/NYSE stocks have been doing

📈 NASDAQ/NYSE portfolio stock growth (%) from initial investment to 21 Feb 2024

📈 Our Four Trillion Dollar Companies

Apple [AAPL] Our longest-held NASDAQ stock is Apple, which we bought at an average of USD 16.76 (adjusted for share splits) from 21 Oct 2010. This was shortly after the release of the iPhone 4 by Steve Jobs on 8 Jun 2010. It was our first NASDAQ investment. As a result of the iPhone's success, and the success of subsequently released products, Apple has since become the world's most valuable (by market capitalization) company. On 3 Jan 2022 it became the first company to achieve a USD 3 trillion market valuation, up 5,800% since listing on NASDAQ on 12 Dec 1980. With a share price of USD 182.32 (adjusted for 2 share splits: 7:1 and 4:1) Apple is valued at around USD 2.815 trillion, and pays quarterly dividends.

Alphabet [GOOG/L] Google was our second NASDAQ investment. Google later restructured itself with three classes of shares and renamed itself Alphabet. We hold Class A (GOOGL) and Class C (GOOG) shares. Because these two classes closely track each other we only mention GOOGL in our weekly reports. Alphabet achieved USD 2 trillion status (briefly) on 8 Nov 2021. GOOGL and GOOG market caps are currently reported to be USD 1.772 trillion, and USD 1.788 trillion. Alphabet's 20:1 stock split occurred on 18 Jul 2022.

Amazon [AMZN] After buying Amazon at USD 190.90 on 20 Jan 2011, we added to it through 4 years of low growth. Amazon's value significantly increased when analysts and investors appreciated the value of AWS. On 9 Mar 2022 Amazon's board approved a 20:1 share split plus a USD10 billion share buyback. The stock split was effective from commencement of trade on 6 Jun 2022. Amazon's last closing price (adjusted for the 20:1 split) was USD 168.59 and its market capitalization is currently USD 1.751 trillion.

Meta [META] On 12 Sep 2012 we bought Facebook at USD 20.75 (just over half its USD 38.00 IPO price = market capitalization of USD 104 billion in May 2012). On 28 Jun 2021 Facebook achieved trillion dollar status with a share price of USD 355.64. With a share price of USD 468.03 Meta's market capitalization is currently USD 1.193 trillion.

/ Currencies (FX)

/ The wild ride of the AUD/USD since the AUD was floated in Dec 1983 [History]

In 2010 the AUD was valued above parity with the USD. We concluded that this was unlikely to be sustained in the long term, and this influenced our decision to invest in NASDAQ stocks at that time. Over the next 8 years the AUD fell from USD 1.080 on 2 Mar 2012 to a low of USD 0.574 on 20 Mar 2020, substantially boosting the AUD value of our NASDAQ and NYSE stocks. The AUD has risen against the USD since then, but even at USD 0.655 today (21 Feb 2024), it remains a long way below parity.

FX issues: One of the most important issues, affecting the valuation of listed companies and the USD, is USA's fiscal deficit (current and outlook), debt/GDP and public debt. Continued accumulation of fiscal deficits and debt interest into USA's debt balance and raising USA's public debt limit and Federal funds rate (FFR), must at some point, lead to an unsustainable situation. USA's Congressional Budget Office (CBO) estimates public debt/GDP is 98% in 2023, and forecasts that number to reach 119% by 2033. Fitch Ratings concluded (10 Jul 2023) "A reluctance to raise taxes or reduce spending makes it difficult to narrow fiscal deficits consistent with stabilizing the gross government debt ratio."