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3 exciting shares benefiting from growing tech trends

Australia may not have the biggest tech sector in the world, but it certainly makes up for that in quality.

Three top tech shares that I think would be great options for investors are listed below. Here’s why I like them:

Altium Limited (ASX: ALU)

I think that Altium is one of the best ways to gain exposure to the rapidly growth Internet of Things (IoT) market. This is because Altium provides a software platform that allows its users to design printed circuit boards (PCB). As IoT/connected devices will generally have a PCB inside them, I expect demand for the company’s award-winning design software will grow strongly over the next decade. This could put Altium in a position to continue growing its top line at an above-average rate for some time to come.

Appen Ltd (ASX: APX)

Another key trend in the technology sector right now is machine learning and artificial intelligence. I think Appen is the best way for Australian investors to gain exposure to this trend. The company provides some of the biggest tech giants in the world with machine learning and artificial intelligence dataset services. Demand has been growing at an incredible rate, most notably in the social media and search categories, leading to management forecasting EBITDA growth of over 62% in FY 2018.

Nextdc Ltd (ASX: NXT)

One final key technology trend that many investors will be aware of is the shift to the cloud. As cloud computing continues to gather pace, demand for data centre services has been growing significantly. I believe this positions NEXTDC perfectly to profit, especially given the quality of its data centres and their prime positions in key markets. Its shares may trade a significant premium to the market average, but I believe they might prove a good buy, even though the company also carries plenty of risks to investors.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of Altium and 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 Scott Phillips.

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