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3 new ASX tech shares for your 2018 watch list

2017 was a year that saw some tech stocks, such as Aconex Ltd (ASX: ACX) and Appen Ltd (ASX: APX), deliver sold returns to shareholders.

Here’s three new ASX tech companies that could be worth keeping an eye on.

 

5G Networks Ltd (ASX: 5GN)

It’s been a good start for 5G Networks Ltd shareholders who have enjoyed gains exceeding 40 per cent since the company listed on the ASX in November.

5G Networks offers customers “super” high speed internet and cloud computing services.

The company hopes to tap a share of the telecoms services revenue, worth $42 billion in 2016, and intends to attract customers suffering from slow internet speeds.

5G Networks stated that the average Australian internet speed is 9.6 mbps and claims its services can boost that to 350 mbps.

 

Parkd Ltd (ASX: PKD)

The Parkd Ltd share price was up by almost 7 per cent on Friday with shares in the company now trading for about 24 cents.

Parkd Ltd has developed a parking system that utilises light weight concrete to create permanent or temporary parking structures.

The company’s share price hit 26 cents a few days after listing in early December but started to decline after that before making a recovery on Friday.

Although the company reported a loss exceeding $700,000 for FY 2017, its unique approach to parking solutions could prove popular.

 

New Energy Solar Ltd (ASX: NEW)

As the name suggests, New Energy Solar is an energy company that specialises in solar power and listed on the ASX in December.

New Energy Solar, with a market value approaching $500 million, has seen its share price drop to $1.46 after trading as high as $1.65.

The company has four solar plants in operation in the United States, two in North Carolina and two more in California.

New Energy Solar is looking to expand with plans for more solar plants in the United States and Australia.

If you’re interested in learning about more tech shares that could prove winners in 2018, check this out…

5 stocks under $5

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Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended ACONEX FPO. The Motley Fool Australia owns shares of Appen Ltd. 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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