Is the Tech Market Bubbling Under?

I have been wondering for a while why UK Investors are Nervous of Dotcom Sector:

"Recent events such as the flotation of internet search engine Google have been reviving interest in tech stocks across the Atlantic, although many experts say investor confidence is picking up at a slower rate at home.

Hilary Cook of Barclays Stockbrokers says: 'I think we have already seen a tech boom in the US - the Nasdaq has have a very good run - but the problem is we (in the UK) don't have many quoted tech companies any more.

'We haven't had the basic technology stocks, the Intels, the Apple or Microsoft, to really benefit from the return to favour.'
She says the only thing on the UK market at a technological level was pharmaceutical companies, with accountancy software group Sage the only technology stock in the Footsie.

Hilary adds: 'The environment is massively more favourable but only if the companies want to come to the market. It's not that fashionable to go for quotes again. It's a lot easier just to find a private equity backer, of which there's no shortage. "