Growth rate of mobile is expanding into apps - Walter Price

GROWTH RATE OF MOBILE IS EXPANDING INTO APPS - WALTER PRICE ANCHOR (OFF-CAMERA) ENGLISH SAYING: Now, you also bought into Facebook in the last few weeks. What's happening with Facebook that piqued your interest again? WALTER PRICE, MANAGER, WELLS FARGO SPECIALIZED TECHNOLOGY FUND (ENGLISH) SAYING: Facebook's starting to get it right on mobile. We've seen mobile turn into a billion-Dollar business for them in the last couple of quarters. And we think they're going to continue to do well with their user base and bringing advertisers through their user base to improve brand recognition and brand promotion. So now that they've got a good story with mobile, I think you'll see the growth rate continue to be high at Facebook. ANCHOR (OFF-CAMERA) ENGLISH SAYING: What do you think the big story is for technology stocks this year - is it mobile strategies, is it monetizing the business in new ways, or some other thing? WALTER PRICE, MANAGER, WELLS FARGO SPECIALIZED TECHNOLOGY FUND (ENGLISH) SAYING: Well, I think that you're seeing the growth rate of mobile expand into applications. So you know I think the last couple of years have been the years of the Smartphone proliferation and now you've got very high percentage of the population using Smartphones. So it's really Smartphone applications from a consumer standpoint, whether it's e-commerce or whether it's applications that improve people's lives and productivity. YouTube would be an example. So I think that that's the growth area in consumer. With respect to enterprise, I think it's the SaaS companies. The model is really moving to software as a service and infrastructure as a service for companies. And that's where their incremental Dollars are going. ANCHOR (OFF-CAMERA) ENGLISH SAYING: It's interesting that for Q1, earnings expectations for the technology companies have come down sharply. Do you think there's going to be some surprises on the earnings front? And will we see growth pick up as the year goes on? WALTER PRICE, MANAGER, WELLS FARGO SPECIALIZED TECHNOLOGY FUND (ENGLI...