As subscribers may have read, NEXTDC (NXT) is tapping the market for $1.3bn; some investors might be tempted to fund the raise by the data centre operator with other ASX tech names, hence today’s report. Last night’s +1.65% surge by the NASDAQ-100 illustrated there’s still plenty of life left in the sector, especially if we do see the Fed and ECB start cutting rates this year. For all of the talk around excessive valuations and sticky inflation, the US tech sector is still less than 1% below its all-time high.
- The local tech stocks still look on course to make fresh highs through 2024/5, or at least ~10% higher
MM is cautiously bullish toward the ASX Tech Sector
This morning, we briefly updated our stance on four major ASX tech stocks as we consider increasing or decreasing our exposure. Note: click through the specific links on each stock for a more in-depth analysis by MM through 2023/4.
