3 ASX tech shares that could make you rich

Getting rich by investing in the share market is certainly no cinch.

However, the share market is also a tried and tested way of building one’s wealth – if done correctly!

While there are many different ways to increase your wealth via the stock market, one way which is attractive to many investors is by focussing on the technology (tech) sector, which is home to a number of companies with enticing business models.

What’s enticing about these tech businesses is that they usually have the potential to be highly profitable, to generate significant amounts of free cash flow and have exposure to large growth opportunities.

Past performance of some current tech leaders highlights the attractive dynamics which can be present in the tech sector.

Consider, for example REA Group Limited (ASX: REA). It has successfully grown from a small online start-up of real estate classifieds servicing the domestic market to holding not just a dominant position within Australia, but also significant operations in numerous foreign marketplaces too.

In response to REA’s growing profitability and entrenched leadership position, the group’s share price has risen rapidly.

In the past decade, REA’s share price has increased from around $3.60 to $56 – a gain of 1,370%!

So which ASX tech shares could be the future stars? Here are three that in my opinion are worth keeping an eye on…

Aconex Ltd (ASX: ACX) is a leading provider of software to the construction industry which allows owners, contractors and project teams to all connect, share and communicate via the same platform.

WiseTech Global Ltd (ASX: WTC) is a provider of software solutions to the logistics industry. The group’s core product CargoWise boasts a global customer base.

XERO FPO NZX (ASX: XRO) appears to be in the process of carving out a leading market position in the cloud accounting space.

Forget about companies whose best days are already behind them. Focus on GROWING companies.

This "dirt cheap" company. is growing like gangbusters, and trading on a fat dividend yield, FULLY FRANKED. With interest rates set to stay at these low levels for years to come, for income-hungry investors, including SMSFs, this ASX company could be the "Holy Grail" of dividend plays for 2016. Click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required.

Motley Fool contributor Tim McArthur has no position in any stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global and Xero. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.