Health care, certainly, is technology. They happen to have more Internet customers than any other bank in the country. They are utilizing technology to strengthen their franchise and to increase their profitability. Wells Fargo says that their Internet customers are more profitable for them than their non-Internet customers, because typically they re using more of the company s services. My hunch is also that they re younger people who would be more inclined to be using a broad array of services.
Younger people do.
So I think that Wells Fargo has been mining these Internet customers very well. Therefore, I think that we are laced with technology, but these are simply not the high-profile, large cap technology stocks that the momentum players are looking for. These are companies that are mining technology in order to improve their profitability and strengthen their franchise. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.