Google is continuing to hold its own despite Facebook and Skype's video chat integration, according to Ben Rogoff, fund manager at Polar Capital Partners.
"If you look at the share that social media is having in terms of behavior and so on, it's really not coming at the expense of Google. It's coming at the expense of Yahoo and AOL and some of the other legacy properties," Rogoff told CNBC in an interview.
He adds that Microsoft and other incumbent technology companies face challenges in remaining pertinent and refreshing their brands.
Referring to Microsoft's deal to acquire Skype, Rogoff said, "It was a high-ticket price for what they [Microsoft] paid for, but Skype is a transaction that will put Microsoft back in the forefront of IT buyers' minds."
Despite it all, "Google is continuing to hold its own, which is very positive indeed," Rogoff added.
He urges tech investors to "look beyond" short-term thinking:
"I genuinely think it's one of the poorest, laziest approaches to investing in our space... So you have to sit there and model what this business will look like in two or three years."
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Disclosures:
Disclosure information was not available for Andrew Goldberg or his company.