UK vs US tech valuations – reflecting on wider and individual stocks. Looking at several leading UK tech stocks, including Computacenter, Raspberry Pi and Kainos, George examines the ‘p/e discount’ issue but it’s clearly more nuanced than just growth.

Ian questions why it takes so long for the UK market to trust and understand new tech stocks.

Results from Computacenter with George looking to the US reminding us that UK listed companies can grow globally when the fund managers allow it.

IQE’s profit warning is hardly a surprise and it now looks like AIM could be seeing another departure. So much value destroyed because a once sensible business became more about being a stock than a business.

Gamma’s results show the value of the Placetel and Starface acquisitions in Germany with their strong organic growth. The management look to be getting far better returns on their investments than the fund managers, so surely buy backs are the last thing fund managers should be demanding.

George and Ian catch up on US giants results, reflecting on very different approaches and perhaps outlooks, before considering whether the IPO noise is consistent with the share price performance of UK tech stocks.

Microsoft - AI reality, talk of returns on its own investment on AI but no real idea on those of its customers. George argues that it’s the best placed and bemoans the lowly valuation.

Meta - it's worth listening to the call just as reminder of how different the mindset and culture is to Microsoft, Nvidia, Google and Amazon.

This leads onto what is AI 2.0: What business will be built on top of the cold AI servers? What’s next for search? Perhaps we will see Zuckerberg’s virtual dreams becoming a reality.

Back to the reality of the UK market and how the FTSE 100 rise contrasts with the UK small cap tech share price declines. Just how strong is the underlying local demand for new IPOs at full tech prices?

Finally, George has a few words on the life and passing of the great Dame Steve Shirley.

This week George and Ian canter through the newsflow of recent weeks, Bytes, Accesso, Northcoders and Hostelworld.

Is Bytes broken? No, but its reputation has taken another beating.

Hostelworld’s direct marketing expense reminds us why many startups sometimes feel they are just working for Google.

Reflecting on Salesforce’s recent wins with the US government, George looks back upon the Efficiency and Reform Group in the UK and whether its cost saving success will be repeated.