Historically softening bond yields has been a tailwind for ASX tech stocks but the “AI Disruption Trade” has put a massive spanner in the works of common correlations. However, TNE has shown signs of flourishing, as opposed to perishing at the hands of AI, and its performance has reflected this, with the stock up +7.4% in 2026 materially outperforming many ASX software peers that have fallen 30–50% over the same period.
We were impressed by Technology One’s 1H result this month, covered here, and this is another stock that has bounced ~10% after an initial uncertain reaction to its update.
- We can see TNE at least testing the $35 area in the coming months, posting new 2026 highs.
MM is bullish towards TNE around $30
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