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

A group of businesspeople clapping.
Growth Shares

2 of the best growth-focused ASX shares to consider buying in May

Analysts have very good things to say about these growth stocks.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Growth Shares

How ASX growth shares can become top dividend stocks

Are growth stocks passive income power plays in the making?

Read more »

A woman makes the task of vacuuming fun, leaping while she pretends it is an air guitar.
Opinions

2 top ASX growth shares I'd buy today

I’m bullish about these stocks.

Read more »

A young boy points and smiles as he eats fried chicken.
Growth Shares

The smartest ASX growth shares to buy with $500 right now

I’m bullish about ASX growth stocks at a good price.

Read more »

a man sits back from his laptop computer with both hands behind his head feeling happy to see the Brambles share price moving significantly higher today
Growth Shares

Aussie investors: 3 ASX shares to buy and hold forever

Analysts think these buy and hold options are top picks right now.

Read more »

Elegant lady with make up wearing jewellery and sitting on a chair.
Growth Shares

Leading broker thinks this top ASX 200 stock's earnings can soar 130% by FY28

This stock could see enormous profit growth in the coming years.

Read more »

A businesswoman on the phone is shocked as she looks at her watch, she's running out of time.
Growth Shares

Two high-flying ASX shares: One upgraded, one downgraded

One of these high-flying shares could keep rising and one could fall.

Read more »

A man and woman sit next to each other looking at each other and feeling excited and surprised after reading good news about their shares on a laptop.
Growth Shares

Brokers say these ASX growth shares are top buys in May

Analysts reckon these shares could offer big returns.

Read more »