GO
Loading...

Top 3 Tech Stocks Are in China: Pro

The top technology plays around aren't based on the West Coast — or even in the United States, Light Street Capital Founder Glen Kacher said Monday.

"The best risk-rewards we see in the world are in the Chinese internet sector," he said.

"And it's a sector many on Wall Street are not willing to go do the work or they're scared, and so we see that as an opportunity to go over there quite a bit, learn about those companies, meet with those management teams and meet with the other members of the ecosystem, and that's been quite a good sector for us."

(Read More: Apple Stock Headed to $600: ISI's Brian Marshall)

On CNBC's "Fast Money," Kacher said that valuations were relatively low for the earnings growth a few Chinese tech names offer.


"What it says is that, to put a point on it, is that those companies are growing earnings at 70 or 80 percent a year, and we're paying 20 times, 25 times, 28 times for those companies," he added.

Kacher said that the top three holdings in Light Street Capital were:

Kacher also liked Yahoo for exposure to Alibaba, which he estimated had 90 percent e-commerce market share in China and accelerating growth, and he liked Yelp, which he recently sold.

"The valuation got a little bit ahead," he added.

(Watch Video: Jim Cramer: McDonald's Beats Apple on Innovation)


Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET