Reporting Season Wrap: Tech & Software

Exceptional results generally from the growth tech area of the ASX – the talk of valuations getting less airtime and talk of growth at a top line / user level the main discussion point.

Key points:

  • Appen (ASX:APX) & Altium (ASX:ALU) both delivered exceptional results, and rallied 60% and 40% respectively through the period
  • The buy now, pay later space incorporating Zip Co (ASX:Z1P), AfterPay Touch (ASX:APT)  & Splitit (ASX:SPT) rallied strongly
  • While Xero (ASX:XRO) reports in May, it too is showing strong operational momentum and remains a stock to buy into weakness

MM take:

We bought APX, ALU & XRO well into the December weakness, however we left a lot on the table after booking some good profits. We are looking to buy meaningful pullbacks once again.

Xero (ASX:XRO) Chart

Xero (ASX:XRO)