In FY 2018 the information technology sector was one of the best performing areas of the market with a 29.5% gain.
While there's no guarantee that the sector will perform as well in the new financial year, I think that there are a number of tech shares with market-beating potential.
Three top tech shares that I would consider buying this month are listed below:
Altium Limited (ASX: ALU)
This printed circuit board (PCB) design software provider could be a great long-term investment option thanks to the internet of things boom. As the proliferation of connected devices happens, I expect demand for Altium's software will increase strongly. This is because connected devices will typically have a PCB inside them. As with all the shares mentioned here, Altium does trade at a premium to the market average and is a reasonably high-risk investment. However, I remain confident that its growth profile justifies this.
Appen Ltd (ASX: APX)
Appen is a developer of high-quality, human annotated datasets in the high growth machine learning and artificial intelligence markets. The company counts many of the world's largest tech companies as its customers, which I believe it a testament to the quality of its services. Thanks to strong demand for its offering and a sizeable acquisition, management recently advised that full-year EBITDA is trending towards the upper end of its $50 million to $55 million guidance range. This would mean EBITDA growth of 95% year-on-year.
Webjet Limited (ASX: WEB)
This online travel agent is one of my favourite tech shares on the Australian share market. I've been very impressed with the way the company has achieved bookings growth well ahead of the industry average. And with management continuing to target this level of growth over the medium term, I believe it is well positioned to deliver above-average earnings growth for the next few years. This could make it a great buy and hold investment option.
