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The months of October and November were relatively disappointing for the technology sector.
Since early October, the S & P / ASX 200 Info Tech index had dropped about 13% before today.
I am optimistic that things will be much better in December and beyond, which, in my opinion, may be worth considering as an investment in one of the three main technological actions listed below.
Altium Limited (ASX: ALU)
One of my favorite tech stocks in the local market is this electronics design software company. Altium has experienced impressive growth in recent years and this should remain the case in the foreseeable future, thanks to the rapidly expanding market of the Internet of Things. Since these devices typically include a printed circuit board, I think subscriptions to Altium's award-winning printed circuit design software will increase sharply and support earnings growth.
REA Group Limited (ASX: REA)
The REA group is another high-tech company that deserves to be taken into account. This year, the company specializing in real estate listings has shown investors that it can still generate solid growth in its profits in a falling property market. During the first quarter of fiscal 2019, the REA group recorded a 17% increase in its revenues, to 221.9 million USD, and a 23% increase in EBITDA, to 130.9 million USD. This strong revenue growth reflects price changes effective July 1, an improved product line and deeper penetration.
Xero Limited (ASX: XRO)
I think this accounting software provider would be a great investment option. That's because I think Xero's software quality has put it in an excellent position to take full advantage of the move to cloud-based accounting. This was evident during the first half of fiscal 2019, when the company saw its turnover climb by 37% to $ 256.5 million, thanks to 193,000 net new subscribers and a 6% increase in its average business figure per user.
5 companies we like better than Xero
When Scott Phillips, Ace Stock's coach, has a buy recommendation, history shows he can pay to listen.
Scott recently revealed what he believes to be the five best ASX stock for investors to buy now … and Xero was not one of them! That's right, he thinks these 5 stocks represent even better purchases.
See all 5 stocks
James Mickleboro, a contributor to Motley Fool, holds no position in any of the actions mentioned. Motley Fool Australia holds shares in Altium and Xero. Motley Fool Australia has recommended REA Group Limited. We fools may not all have the same opinion, but we all agree that taking into account a wide range of ideas makes us better investors. Motley Fool has a disclosure policy. This article contains only general investment tips (under AFSL 400691). Authorized by Scott Phillips.
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