ASX Tech Stocks on the Rise
By Dale Gillham and Janine Cox |
Last week Altium rose 28% while IRESS was up 20% on takeover bids. In addition, the top six best performers in the ASX top 100 stocks last week were all ASX tech stocks including Altium, Appen, Afterpay, TPG, NextDC and Wisetech with gains of between 7% and 28%. As a whole the technology sector was up 6.96% although the sector is still down over 6% for the calendar year with Appen down 44%, Afterpay down 13%, Next Dc down 3%, while Altium is up just 2% over the same time.
So has the technology sector bottomed out and are these tech stocks starting a new uptrend. In tonight’s Australian Stock Market Show, Dale and Janine will analyse the technology sector and these stocks to determine if now is the time to buy.