It looks likely to be another tough day of trade for Australia's leading tech shares after the Nasdaq index was sold off again overnight.
While this is disappointing in the short term, I believe it is creating a long term buying opportunity for investors.
In light of this, when the dust settles on this latest selling, I would suggest investors consider snapping up these ASX tech shares:
Afterpay Ltd (ASX: APT)
The first ASX tech share to consider buying after the selloff is Afterpay. I think this payments company could be a fantastic buy and hold option due to its strong position in the rapidly growing buy now pay later market. I've been very impressed with the progress it is making in the lucrative US and UK markets. If it can replicate this success with its European and Asian expansions, then I believe it has the potential to become a giant of the payments industry in the future.
Altium Limited (ASX: ALU)
I think this printed circuit board software platform provider would be a great long term option for investors after the selloff. In FY 2020 Altium delivered a 10% lift in revenue to US$189.1 million despite facing material COVID-19 headwinds. As the pandemic eases, I expect demand for its software to rebound and for Altium to get back on track with its longer term goals. These include market dominance, revenue of US$500 million, and 100,000 subscribers.
Appen Ltd (ASX: APX)
Another ASX tech share that I would buy following the selloff is Appen. As the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence, I believe it has outstanding long term growth potential. Especially given its history of working with many of the world's biggest tech companies and its strong position in the government sector.
