Tech stocks have a reputation for being overly prone to hype, and a business model with a heavy focus on market share over profits makes value investors wary. But that reputation is largely undeserved, and can be attributed to memories of the 1990s tech bubble and companies such as Twitter Inc ( TWTR) whose valuation is based on speculation of future profits. Artisan Partners Asset Management Inc ( APAM), a bottom up value investment fund that makes no effort to allocate funds to any particular sector, currently has about a third of its assets investments in the tech sector. "Many of the start-up technology companies in the 1990s were primarily focused on rapidly building market share around new and largely unfamiliar concepts and/or technologies, which typically required large amounts of capital expenditures," according to a recent Artisan Partners Asset Management Inc ( APAM) report. "Unproven business models were the norm of the 'growth over profits' mentality as companies tried to expand their customer bases as quickly as possible at the expense of revenues, profits and earnings."