As we looked at earlier, the NASDAQ is experiencing a constructive pullback with none of the volatility being experienced across many indices courtesy of the conflict. However, the ASX tech space has endured a far harder time, with most of the major players being caught up in the “AI Disruption Trade” and, in true “If the Dow sneezes, we catch a cold” fashion, the local stocks have been battered since late 2025.
The ATEC ETF provides exposure to a diversified basket of ASX-listed technology and tech-enabled companies, spanning software, online platforms, data centres and med-tech. Its largest holdings currently include Xero (XRO), CAR Group (CAR) and WiseTech (WTC), some high-profile volatile names. The last few weeks saw decent bounces from many of the local tech names, as in our opinion, the sector looks for a low, but the latest round of oil-led volatility, which has pushed up bond yields, has seen another sell-off across the sector.
- We can see the ATEC ETF testing/breaking the $19 level, but it’s now time to start accumulating in our opinion.
MM is bullish towards the ATEC ETF below $20
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