Here’s a table showing every ASX tech stock’s performance this year
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And heavy regulatory focus on deal-making among high-flying tech companies such as Big Un and GetSwift hasn’t helped confidence among tech investors.
While these days most businesses rely to some extent on the successful use of technology, there are about 240 ASX-listed companies that can arguably be called “tech stocks”.
>> Scroll down for a list of ASX tech stocks showing share price performance over the past year
Of these 240, just under half are showing share price gains over the past 12 months.
These five stocks have each gained more than 400 per cent since June 2017.
However their returns are a lot less impressive measured since January.
Back in December Myfiziq shares were fetching $1.65 — achieving 20-bagger status in matter of months. Today it’s at 45c, having lost 60 per cent of its value this calendar year.
It’s a similar story across the tech sector.
Measured since the start of January only one-third of tech stocks are ahead (81 of the 240 in our table).
That could be a buying opportunity however — because most tech CEOs remain confident of growing their revenue.
Tech execs say things are looking up
Despite this year’s disappointing performance technology company CEOs around the world say things are looking good.
PricewaterhouseCoopers this week released the results of a global survey of tech bosses — and the results were mostly positive.
“Technology CEOs are bullish on the world economy and their own companies’ prospects,” said PwC’s global technology leader Raman Chitkara.
The majority of tech company bosses (87 per cent) were somewhat or very confident of revenue growth in 2018 — and 93 per cent were confident about their three-year outlook.
Four out of five CEOs said they were relying on organic growth in their businesses. About half were looking to alliances, acquisitions or cost reduction.
Only 11 per cent expected to sell a business or exit a market.
“On the cautionary side, however, we found technology CEOs are concerned about cyber attacks and the supply of digital talent,” Mr Chitkara said.
About 45 per cent of technology companies were extremely concerned about cyber attacks.
Attracting digital talent was the second greatest wory, followed by the speed of technological change.
>> Here’s list of 240 ASX-listed tech and telco stocks showing share price performance over the past year.
The table features stocks whose core business is technology. Scroll or swipe to reveal full table. Click on headings to sort data.