Why the Appen share price is soaring today

Can the Appen Ltd (ASX:APX) share price set a new record high in 2019?

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Shares in language translation, data, machine learning and artificial intelligence business Appen Ltd (ASX: APX) are up 4.3% to $14.86 today and once again approaching a record high of $16.

The Appen share price fell heavily in the final quarter of calendar year 2018 in line with tech and other highly-valued growth shares around the world as investors worried an inverted yield curve pointed to a recession ahead for the US.

However, it seems sentiment and the yield curve have turned with the tech-heavy Nasdaq index in the U.S. starting 2019 with some healthy gains to lead tech shares higher everywhere.

Appen itself has been operating exceptionally well and on 15 November even told investors to expect full year EBITDA to come in between $62 million to $65 million, which compares to prior guidance for EBITDA between $54 million to $59 million.

Appen is not the only hot tech share rising today, with AfterPay Touch Group Ltd (ASX: APT) up 3% to $13.97, and Altium Limited (ASX: ALU) up 1.3% to $23.80.

Motley Fool contributor Tom Richardson owns shares of AFTERPAY T FPO and Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO, Altium, and 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 Scott Phillips.

More on Share Gainers

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Materials Shares

How has the Liontown share price rocketed 15% in a week?

There's one factor that might explain Liontown's explosive performance of late.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why EOS, Novonix, St Barbara, and Whitehaven Coal shares are storming higher

These ASX shares are having strong sessions. But why?

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a strong showing from ASX shares this Tuesday.

Read more »

two people celebrating good news, stock rise, price increase, positive announcement
Share Gainers

Why Ansell, Elders, Predictive Discovery, and Rio Tinto shares are storming higher

These ASX shares are having a strong session. But why?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX's trading week was off to an encouraging start this Monday.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Life360, Qantas, Qoria, and Silver Lake shares are racing higher today

These ASX shares are starting the week very strongly. But why?

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX lithium share just rocketed 31% on an 'outstanding' find

ASX investors are clearly still interested in the lithium space.

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

Why is everyone talking about Mesoblast shares?

ASX biotech share Mesoblast has been grabbing plenty of investor attention recently.

Read more »