2014 Tech Sector Outlook By Sean Udall

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On this presentation Sean Udal covers various topics such as FireEye (FEYE), the Security Super Cycle, IPOs, Wearables and top investing ideas for 2014.

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www.minyanville.com/techstrat

Sean Udal is the Author of Minyanville’s TechStrat Report. Sean has 20+ years of experience in researching and trading technology stocks.
Sean serves as CFO of Cre8tfutures LLC, a Technology Consulting firm specializing in disruptive market changes and strategy implementation.
Follow Sean on Twitter: @UdallTechStrat

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2014 Tech Sector Outlook By Sean Udall

  1. 1. 2014 Tech Stock Outlook 1 PRESENTATION TITLE CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  2. 2. Our Special Guest: Sean Udall 2 • Author of Minyanville’s TechStrat Report. – www.minyanville.com/techstrat • 20+ years of experience in researching and trading technology stocks. • Formerly of: Morgan Stanley, Salomon Smith Barney. • Serves as CFO of Cre8tfutures LLC, a Technology Consulting firm specializing in disruptive market changes and strategy implementation. • Follow Sean on Twitter: @UdallTechStrat PRESENTATION TITLE CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  3. 3. 3 Extended Outperformance? • Tech Advantages Still Hold: – Outstanding revenue/earnings growth relative to valuation. – Superior ROE in rising inflation world. – Upside Black Swan potential? • Obstacles (look to the unexpected): – Macro is now good. What could hurt it? – Emerging bubble, potential worry. – Could cyber security breaches cause an ugly correction? PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  4. 4. 4 Topics: 1) Apple: 64-bit, touch ID, big screen coming, what else? 2) Wearables 3) FireEye & the security super cycle. 4) M&A returned in 2013. Will it go into silly mode? 5) Emerging networking leaving the old guard behind? 6) IPOs – Square, Dropbox, and Palantir (OH MY!) 7) Top names into earnings, market call. Bonus – Twitter followed Facebook home run. What’s next? PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  5. 5. 5 AAPL, Focus on the Forest? • Yes Indeed. – More conviction in my “great disruptor is BACK” thesis. – 64-bit + Touch ID = huge innovation lead. – Security/payments will come. – Market share gain thesis is underway. – Big screen iPhone is next key! – AAPL will assault digital marketplace and margins could expand further. PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  6. 6. 6 Wearables – My Vision • Google Glass has an early lead. But does Apple pull an iPod on the industry? – Next secular consumer driver. – GOOG Glass should be great, but… – AAPL will probably start slow and gain share as multiple products emerge. Discerning Markets? – Watch out for the Semi’s. SOX is in breakout mode, wearables could be next secular driver. – I see 30-50% growth from medical devices for years, AAPL will likely dominate this category. PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  7. 7. 6 FEYE and Security Super Cycle • Security Super Cycle – My thesis has arrived – – – – – Next secular enterprise theme. FireEye (FEYE): the next CSCO/AAPL? Target security issue isn’t a Target issue. This space is a playground for the disruptors. PANW in the mix. But Palantir is likely the next closest thing to FEYE. – FEYE has doubled - another coming. PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  8. 8. 7 M&A Does it get Silly? • M&A saw strong gains last year. It seems poised to accelerate. • Software will always be strong space – TIBX/BSFT etc.? • Security – can incumbents sit back and do nothing? • Network/Security Convergence – RVBD etc… • Payments PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  9. 9. 8 Emerging Networking leaving Old Guard behind? • CSCO… whoa is me! • JNPR has to do a deal. • CIEN sits in a very nice position – 100G and beyond. • FFIV similar, in nice position in its respective space. • GIMO/BLOX and XXIA entered the vertical. • M&A could/should see action. PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  10. 10. 9 Let’s talk IPOs – Square, Dropbox and Palantir • Remember “FEYE is the next Splunk (SPLK)”? • Square -- The next Visa/MA/PayPal? • Palantir – The next FEYE? • Dropbox – The next hmmm, hard to comp. • Yes, TWTR was 180 degrees different than FB in early trading!! PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  11. 11. 10 Thoughts on Earnings Season/Market Call. • Bullish – AAPL, TWTR, FFIV and most TechStrat portfolio names. • EBAY – Square coming so needs to be “good enough” for potential big move. • Overall, Q1 EPS season is off to good start. Better upside reports coming in next few weeks. • My Market call is still big up/down move. 1998 as potential mirror. PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200
  12. 12. 12 Q&A/Thank you for attending! For information on subscribing to Minyanville’s TechStrat Report by Sean Udall, head to Minyanville.com/TechStrat today. Follow Sean on Twitter: @UdallTechstrat For a copy of this presentation, email us at buzz@minyanville.com. PRESENTATION TITLE 1/23/2014 CONFIDENTIAL Minyanville Media, Inc. support@minyanville.com 212•991•6200

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