Supply chain issues, compounded by COVID as well as tighter regulations, continue to put pressure on global technology companies, while the global consumer is likely to pay too. That's the view of Mary Manning from Alphinity Investment Management. Mary says the rise of the Delta variant of COVID continues to play out in Asia with factory production hit hard by restrictions, particularly in Vietnam. Mary points to Nike’s recent results, which suffered because its production of sportswear in the country ground to a halt. On top of that, Mary says apparel companies have been hit by China’s crack down on luxury goods, which has implications for European luxury stocks. As a result Mary says Alphinity is focused on global tech, which have non-physical supply chains, think Google, Microsoft, Netflix and Accenture. Also in favour of those stocks says Mary is they're better off than other big tech stocks that can’t get chips and can’t get them shipped.