The tech sector has been one of the hardest hit areas of the share market during the coronavirus crisis.
Over the last six weeks the S&P/ASX 200 Information Technology index has lost approximately 36% of its value. This compares to a 29% decline by the S&P/ASX 200 Index (ASX: XJO) over the same period.
Whilst this is disappointing for shareholders of these companies, it is arguably a buying opportunity for the rest of us.
With that in mind, here are two top ASX tech shares that I would buy in April:
Appen Ltd (ASX: APX)
There's no getting away from the fact that artificial intelligence and machine learning are the future. This certainly is good news for a company such as Appen, which provides industry-leading services to these markets. Through its 1 million+ skilled contractors operating in 130+ countries and 180+ languages and dialects, the company collects and labels high volumes of image, text, speech, audio, and video data used to build and improve artificial intelligence systems.
Demand for Appen's services has been growing exceptionally strongly in recent years, leading to some stellar earnings growth. And while demand may soften during the coronavirus crisis, the company's long term outlook remains very positive. It is for this reason that I think the company's 38% share price decline from its 52-week high is a buying opportunity for investors.
Pushpay Holdings Ltd (ASX: PPH)
Another tech share to consider buying is Pushpay. It is a fast-growing payments company which provides an increasingly popular donor management system to the faith and not-for-profit sectors in North America and the ANZ region. Its innovative solutions simplify engagement, payments, and administration. This allows its users to increase participation and build stronger relationships with their communities.
The company recently revealed that demand for its platform has remained strong despite the closure of churches in North America and the ANZ region. In fact, Pushpay advised that it is seeing a clear shift to digital whereby customers are utilising its mobile-first technology solutions to communicate with their congregations. This could make it well-worth taking advantage of its 21% share price decline from its 52-week high of $4.74.
