Why the ASX tech share rally can run well into 2021

“Reports of my death have been greatly exaggerated,” Mark Twain famously quipped.

After falling ill in England, Twain’s obituary was published in the United States. Rather prematurely, it turned out. Forcing him to write a letter proclaiming he was very much alive.

Some analysts have been sounding a similar premature death knell for the outlook of technology shares in 2021.

The reasoning goes that, following a stellar run in 2020’s coronavirus-plagued ‘work, shop and socialise from home’ world, tech shares are likely to underperform in 2021 as the world reopens.

Top 3 ASX 200 tech shares

Now it’s true that tech shares have had a stellar run since the rebound from the March lows.

In the US, the tech heavy Nasdaq…