3 stellar ASX tech shares to buy in July

Altium Limited (ASX:ALU) and these ASX tech shares could be great additions to your portfolio in July. Here's why I would buy them…

| More on:

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

If you're looking to add some tech shares to your portfolio in July, then I think the three listed below could be the ones to consider buying.

Here's why I think these ASX tech shares could be destined for big things:

Altium Limited (ASX: ALU)

Altium is the printed circuit board (PCB) design software provider behind the popular Altium Designer platform. This award-winning platform is used by almost 50,000 users to effortlessly connect with every facet of the PCB design process. PCBs are found inside almost all electronic devices and are vital to connectivity. Given how 5G internet is supporting the rise of connected devices globally, demand for its software looks set to grow strongly over the next decade. I expect this to drive strong earnings growth once the pandemic passes.

Nearmap Ltd (ASX: NEA)

Another tech share that I would consider buying is Nearmap. It is a leading aerial imagery technology and location data company. Its software allows users to move location analysis out of the field and into the office. This gives businesses the tools to scale quickly and efficiently. I think Nearmap could have a bright future ahead of it due to its lucrative opportunity in a highly fragmented market. And thanks to recent product launches, I'm confident the company will grow its market share in the ANZ and North America markets in the coming years and drive strong sales growth.

NEXTDC Ltd (ASX: NXT)

A final tech share to consider buying is NEXTDC. I believe the innovative data centre operator is perfectly positioned to capitalise on the ever-increasing amount of data being generated by consumers and businesses. This consumption is likely to increase strongly in the future as more software moves to the cloud and 5G internet adoption grows. As a result, I expect demand for capacity at its world class centres will be strong for many years to come. This should drive above-average earnings growth as it scales.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Altium and Nearmap Ltd. The Motley Fool Australia has recommended Nearmap 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.

More on Growth Shares

One girl leapfrogs over her friend's back.
Growth Shares

2 ASX growth shares experts think could double over 12 months

Analysts see triple-digit upside for these beaten-down stocks.

Read more »

Happy man at an ATM.
Growth Shares

Forget CBA: 3 ASX shares with better growth prospects

These shares might be better options for growth investors than Australia's largest bank.

Read more »

Three business people stand on platforms in the desert and look out through telescopes.
Growth Shares

2 top ASX shares to buy and hold for the next decade

These ASX shares have excellent growth outlooks.

Read more »

Rocket powering up and symbolising a rising share price.
Growth Shares

SpaceX climbs nearly 20% after its IPO. Here's why that is good news for these ASX shares

SpaceX shares are up significantly since their IPO. Here's why that is great news for two ASX-listed stocks.

Read more »

Business people discussing project on digital tablet.
Growth Shares

Where to invest $20,000 in ASX 200 shares in June

Wondering where to invest? Here are three shares that analysts rate as buys.

Read more »

A woman is excited as she reads the latest rumour on her phone.
Growth Shares

Brokers rate these 6 ASX 200 shares a strong buy, and tip upsides of up to 227%

It looks like these ASX 200 shares could drag the index higher over the next 12 months.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Growth Shares

3 incredible ASX growth shares tipped to rise 20% to 70%

Brokers are tipping these shares to rise strongly from current levels.

Read more »

a man sits on a ridge high above a large city full of high rise buildings as though he is thinking, contemplating the vista below.
Growth Shares

2 top ASX shares to buy and hold for the next decade

These two investments look like excellent long-term buys today!

Read more »