3 ASX tech shares that could make you a millionaire
Turning $50,000 into over $1 million in 10 years certainly sounds impossible, but it isn’t if you pick the right shares. In fact, there are a number of tech shares on the Australian Stock Exchange that would have made you a millionaire after a $50,000 investment 10 years ago.
Take for example Hansen Technologies Limited (ASX: HSN). It develops and supports customer care and billing solutions for a great number of energy, pay TV, and telecommunications service providers across the world. $50,000 invested in its shares 10 years ago would be worth $2.9 million today following an average 10-year total return of 50.2% per year.
Then there is Netcomm Wireless Ltd (ASX: NTC). It has provided shareholders with an average total return in excess of 41% over the last 10 years. This would have turned your $50,000 investment into almost $1.6 million.
Well that was the last 10 years, so let’s now look ahead at the next decade.
Finding shares like these two is by no means easy, but I believe there are at least three tech shares that could provide shareholders with similar outstanding returns in the future.
Altium Limited (ASX: ALU)
Altium is a company set to profit on the back of the growth of the internet of things market which Cisco predicts will be worth US$14.4 trillion by 2022. Altium enables companies to design printed circuit boards to be used in connected devices. Thanks to the expected growth of its addressable market I believe there is every chance Altium will deliver solid results that produce strong returns for shareholders over the next 10 years.
iSentia Group Ltd (ASX: ISD)
It may not be the most well-known share on the ASX, but it certainly could be one day. Since starting out as an Australian family business over 30 years ago, iSentia has become a global leader in delivering crucial business intelligence. So much so its award-winning software is now being used by multinational companies such as Starbucks, Disney, Visa, and Microsoft. According to CommSec, analysts expect iSentia to grow its earnings by 40% per annum through to at least FY 2018. If the company delivers on these expectations then I would expect to see strong share price gains ahead.
Hansen Technologies Limited (ASX: HSN)
Finally, Hansen Technologies Limited has done it before, and I believe it could do it again. What I like most about Hansen is the way it creates long-standing relationships with its clients. In its reports it revealed that it has 30 pay TV operators on its books with an average tenure of 11 years. I believe this gives the company a great base to grow its earnings from, and expect to see it continue to provide strong returns for its shareholders in the next decade.
There is a fourth company as well, which I believe could turn $50,000 into over $1 million in the next decade. I feel the stage is set for this exciting tech share to rocket in the near future.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Altium and Hansen Technologies. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
Turning $50,000 into over $1 million in 10 years certainly sounds impossible, but it isn?t if you pick the right shares. In fact, there are a number of tech shares on the Australian Stock Exchange that would have made you a millionaire after a $50,000 investment 10 years ago.
Take for example Hansen Technologies Limited (ASX: HSN). It develops and supports customer care and billing solutions for a great number of energy, pay TV, and telecommunications service providers across the world. $50,000 invested in its shares 10 years ago would be worth $2.9 million today following an average 10-year total…