S&P/ASX 200 Index (ASX: XJO) tech shares are 0.9% higher on Tuesday as investors continue to buy the dip.
Or should I say, buy the 'rout'?
Because that's what happened to ASX 200 tech shares between 29 August last year and 30 March this year.
Fears over artificial intelligence (AI) drove a 48% fall for the S&P/ASX 200 Information Technology Index (ASX: XIJ) in just seven months.
A strong turnaround for tech shares on the ASX and in US markets began on 31 March.
Since then, the ASX 200 Info Tech Index has risen 20.1% while the Nasdaq Composite Index (NASDAQ: .IXIC) has lifted 21%.
Here are five ASX 200 tech stocks that the experts say we should buy today.
Image source: Getty Images
5 ASX 200 tech shares to buy while share prices are down
WiseTech Global Ltd (ASX: WTC)
The Wisetech share price is $46.33, up 6.6% today and up 27% since 30 March.
Wisetech is the fastest-rising stock of the entire ASX 200 on Tuesday.
However, the share price of the market's largest tech company remains 32% down over six months.
Citi reiterated its buy rating on Wisetech shares today.
The broker increased its 12-month share price target from $65.35 to $65.65, implying 40% upside ahead.
Xero Ltd (ASX: XRO)
The Xero share price is $85.78, up 3.4% on Tuesday and up 22% since 30 March.
This ASX 200 tech share is still trading 41% lower over six months.
Morgan Stanley reiterated its buy rating on the accounting services provider with a $130 target last week.
This suggests a potential 51% upside ahead.
NextDC Ltd (ASX: NXT)
The NextDC share price is $14.07, down 0.07% today and up 27% since 30 March.
This ASX 200 tech share is down 9% over six months.
Citi maintained its buy rating on NextDC shares with a $19.10 target last week, suggesting a 36% upside ahead.
Life360 Inc (ASX: 360)
The Life360 share price is $21.22, down 0.05% today and up 17% since 30 March.
Over the past six months, the family tracking app provider has lost 56% of its market valuation.
Morgan Stanley reiterated its buy rating on Life360 shares with a $30 price target today.
This implies a potential 41% capital gain over the next year.
Megaport Ltd (ASX: MP1)
The Megaport share price is $9.06, up 0.6% today and up 29% since 30 March.
Despite the rebound, this ASX 200 tech share remains down 43% over six months.
Citi reiterated its buy rating with a $15 price target yesterday.
This implies 65% upside ahead for Megaport stock.
