The perception that technology is a high-risk sector is wrong, he added. On the contrary, O'Gorman believes the industry is the "only sector with positive net cash".
"The top ten tech companies have about a quarter of a trillion dollars in cash, which they have increased by about 40 percent over the last year," he explained.
The tech space is "very cash generative" and the only sector that has "clean balance sheets," he noted.
'Pent Up Demand'
There will continue to be substantial growth in the technology sector, supported by a lot of "pent up demand", O'Gorman said.
"You can now buy a handset for $10 in China, but people are still making money selling them," he said. "It just means the addressable markets are much bigger."
Valuations are the cheapest in 20 years, relative to the market, he said, explaining the catalysts driving the demand.
He also pointed out that a significant portion of the demand stems from a rebound in corporate IT spending as companies search for cost savings in "electricity bills, real estate and reducing IT head count. "