On a 5 year outlook, Dave Harris, CEO of InvaTrust Consultancy, highlighted the technology sector and the consumer stock sector as two key areas for growth in the future, when he joined Zak Mir and Charlie Gibson on the Tip TV Finance Show.
Development and innovation ahead in technology
Established technology brands such as Apple (O:AAPL) and Google (O:GOOGL) will continue to thrive, with newcomers able to break in to the technology sector, but the larger brands will still dominate the market. Harris outlined that development, innovation and R&D will mean the technology sector will continue to grow and push the global economy forward.
Population growth key for consumer stocks
Harris commented that with an ageing population in the developed world, alongside emerging market population growth, migration and middle-class growth all make the outlook for consumer stocks positive. He highlighted Unilver, with over 2 billion people around the world using one of their products every day.
Harris concluded that this sector has plenty of room to grow, as although the developed economy may be used to and tired of the products they sell, the growing emerging market population haven’t seen products like this before.
What next for oil?
Harris believed that short-term spike in the oil price and the oil stocks is likely, probably a dead-cat bounce, before falling back to lower levels.