VIDEO: The boom continues – 2019 tech sector wrap
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The tech sector boom showed no signs of slowing down in 2019. So who were the big winners and losers? Tim Knapton from tech advisory house TechVoyage analyses another very strong year for the sector.
Tech investor sentiment was very buoyant in 2019, more so indeed than for several years previously.
The TechVoyage index (of almost 500 ASX and NZX stocks) rose by 24% and five of our twelve sub-indices registered gains of 30% or more.
The most prevalent mood themes were warm generosity for sales traction and cold punition for missing guidance.
A good exemplar of emerging value creation in healthtech is sleep apnoea solutions provider Somnomed (ASX:SOM).
The strongest sub-sector, again, was Health Tech, where our index surged by 60%, led by Avita Medical (ASX:AVH) which rose eightfold as its therapeutic skin restoration platform gained sales momentum in the US.
And PainChek (ASX:PCK) was boosted by the signature of distribution agreement for its smart phone pain assessment and monitoring device in the UK and the award of a US patent.
Numerous health tech mid caps rallied hard as they demonstrated strong global sales traction including:
As e-tailing continues to boom it’s no surprise that the eCommerce sector rose by 50% with several
stocks more than doubling, as:
Meanwhile, Fintech darlings included:
And, always in the top few sectors, Software boasted standouts like:
Having been a laggard for the last few years the Comms sector put in a very solid performance driven by continual progression in enhanced service offerings:
And so….the outlook for this year? Surely more of the same – continued volatility as those who
report sales strength climb the ladder while those who lose momentum are in for a long slippery