Pro Medicus Ltd (ASX: PME), WiseTech Global Ltd (ASX: WTC), and Netwealth Group Ltd (ASX: NWL) have all fallen heavily from their highs.
I think those declines have made their valuations far more attractive, even though each company still has something to prove.
Here is why I would buy all three ASX tech stocks before August.
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Pro Medicus shares
Pro Medicus shares are trading around $163.94, roughly 50% below their high.
That decline gets my attention because I do not think the need for its Visage imaging software has weakened.
Hospitals are producing more scans, while radiologists are being asked to work through larger image files. Visage helps medical teams access those images quickly across healthcare networks.
I think the next stage could be just as exciting. Pro Medicus is expanding beyond radiology into cardiology and digital pathology, while cloud deployments make the system easier to use across multiple sites.
Its transaction-based contracts can also grow as customers perform more examinations. The company can therefore earn more from an existing hospital without constantly winning new customers.
This ASX tech stock is still not conventionally cheap, and another de-rating is possible. Even so, I think a 50% fall has made the valuation far more attractive.
WiseTech Global shares
WiseTech shares have fallen harder and are down around 70% from their 52-week high.
I won't pretend the story is tidy. The logistics software company faces questions around leadership, governance, customer migrations, its new commercial model, and artificial intelligence.
But, importantly, its CargoWise platform remains deeply embedded in the daily work of logistics companies. Customs, freight forwarding, warehousing, transport, and compliance all need to connect across countries.
Replacing software at the centre of those operations can be expensive and disruptive. I think that gives WiseTech time to improve CargoWise, add capabilities, and broaden its reach through e2open.
AI could also help customers automate paperwork and repetitive decisions inside a system they already use.
The uncertainty may keep the share price volatile. But at 70% below its high, I think the potential reward now justifies taking that risk.
Netwealth Group shares
Netwealth shares are trading around $21.84, down approximately 43% from their 52-week high.
The ASX tech stock provides technology that helps financial advisers administer investments, superannuation, retirement savings, and managed accounts.
I like that its software sits behind work advisers complete every day. As client portfolios become more complicated, advisers need systems that can reduce administration and give them a clearer view of household wealth.
That can make the relationship difficult to walk away from. Moving client records and investment structures to another provider is not a decision an advice firm would make casually.
Further, Netwealth can grow as existing advisers bring more client money onto the service and new firms adopt its technology. Its digital tools can also help advisers serve more clients without adding the same amount of administration.
The share price fall has reduced the premium investors once paid. I think this makes it a much more inviting entry point.
Foolish takeaway
Pro Medicus still carries a premium valuation, WiseTech faces execution and governance questions, and Netwealth operates in a competitive industry.
I am comfortable with those uncertainties because the prices now leave more room for them to surprise on the upside.
Because of this, before August arrives, I would be happy to buy all three ASX tech stocks and hold them through further volatility.
