Having Faith in Tech

Developing countries are seen as a key to long-term growth.

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Consider how deeply technology will penetrate developing countries, writes David Kirkpatrick of Fortune. "While we may seem to be living in grim economic times, tech companies are facing a future that is anything but grim. If you take the global view—and what technology company doesn't?—there really isn't much uncertainty. While things could slow down for a year or two, there is nowhere to go but up—way up," he writes. So who are the winners?

Among companies I believe are likely to benefit from these trends long term are globally-oriented ones including wireless equipment and phone-makers Qualcomm, Nokia, LG, and Samsung; infrastructure providers Cisco and Juniper; multi-faceted large tech companies IBM and Hewlett-Packard; telecommunications operators Deutsche Telecom, Telefonica, Vodafone, and BT; software firms Microsoft, Oracle, Symantec, VMware, and Salesforce.com; Internet companies Google, Yahoo, eBay, Amazon, and Facebook; and diversified global media companies News Corp., Time Warner (which owns Fortune and CNNMoney.com), Bertelsmann and the about-to-be-created Thomson Reuters.