The tech sector could be a good place for growth investors to look for options…
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If you’re wanting to add some exposure to the tech sector then you might want to take a look at the shares listed below.
They have been growing at a strong rate in recent years and could have very bright futures ahead of them. Here’s what you need to know about these three ASX tech shares:
The first ASX tech to look at is Afterpay. It is of course the buy now pay later (BNPL) focused payments company which helped popularise the payment method, becoming a verb in the process.
Afterpay has been growing at a rapid rate in recent years thanks to the increasing popularity of BNPL with consumers and merchants and its global expansion. In respect to the latter, Afterpay has recently launched in Canada and mainland Europe, and is now looking closely at the Asia market. Combined with its $5 trillion opportunity in the United States, it has a huge runway for growth over the 2020s.
Altium Limited (ASX: ALU)
Another option in the tech sector to look at is Altium. It is an electronic design software provider best-known for its Altium Designer and Altium 365 platforms. These platforms are dominating the electronic design market and look set to drive strong growth for Altium over the next decade.
This is especially the case given the increasing demand for this kind of software because of the growing Internet of Things and artificial intelligence markets. These are underpinning an explosion in electronic devices of all shapes and sizes.
Pushpay Holdings Group Ltd (ASX: PPH)
A final ASX tech share to look at is Pushpay. It is a donor management and community engagement platform provider for the faith sector.
Thanks to the shift to a cashless society and the digitisation of the church, Pushpay’s industry-leading platform continues to grow in popularity. This has led to it delivering stellar sales growth over the last few years. And thanks to operating leverage, its earnings have been growing at an even quicker rate.
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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, and PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.