For those looking at the ASX technology sector, Catapult Group International Ltd (ASX: CAT) shares, Pro Medicus Limited (ASX: PME) shares and WiseTech Global Ltd (ASX: WTC) shares should be on your watchlist.
Should I invest in US tech companies?
Many investors believe that if you want great technology investments you should look directly at overseas markets, such as the USA.
Of course, the US markets house the biggest and best technology companies like Apple Inc and Google (now known as Alphabet Inc).
However, there are many great tech companies right here on the ASX. They are smaller, of course, but are impressive businesses nonetheless.
Catapult Group is a sub $300 million technology company based in Melbourne. It creates wearable GPS devices used by professional sporting teams in the AFL, NFL and many other sporting codes. It is also a leader in video analytics.
Pro Medicus is another Melbourne-based tech company, but thanks to a tremendous rise in its share price it has grown to become a $520 million business. Pro Medicus has created software allowing doctors and radiologists to send, receive and interpret medical images. The software is very impressive and the company is founder-run, ticking many boxes for long term technology investors.
Finally, WiseTech is a less ‘sexy’ $2.3 billion technology business but it is just as impressive as the other companies listed above. The founder-run company provides crucial software to the logistics industry globally. Needless to say, online delivery is becoming more popular and companies like WiseTech could stand to benefit from the trend.
There are many great technology companies internationally, but there are some equally great investing opportunities right here on the ASX. In my opinion, each of these companies could be worthy of further research at today’s prices.
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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia owns shares of WiseTech Global. 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.
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