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Why I would buy Nearmap and these ASX tech shares today

James Mickleboro

A good number of tech shares have tumbled lower this month following a spot of weakness on the Nasdaq index. I think investors ought to take advantage of this by picking up some shares with a long-term view.

Three quality tech shares that I would consider buying today are listed below. Here’s why I like them:

Altium Limited (ASX: ALU)

The shares of this leading printed circuit board (PCB) design software company are down by a sizeable 16% from their 52-week high of $38.49. Given its outstanding long-term growth potential thanks to its leadership position in a market exposed to the rapidly growing Internet of Things boom, I think this is a great time to make a long-term investment in its shares. I would class Altium as a strong buy at these levels.

Appen Ltd (ASX: APX)

Appen is a leader in the development of high-quality, human-annotated training data for machine learning and artificial intelligence. Its shares have fallen 2% today, meaning they are now down 33% from their 52-week high of $32.00. I believe this makes it an opportune time to invest, as I remain confident that Appen will deliver stellar earnings growth over the next decade. This is due to the increasing demand for its services from the quick-growing AI and machine learning markets.

Nearmap Ltd (ASX: NEA)

Finally, another tech share to consider buying is Nearmap. The shares of the leading aerial imagery technology and location data company are down over 41% from their 52-week high of $4.29. As with the others, I think this share price weakness is a buying opportunity for patient investors. Especially given its outstanding growth potential thanks to its high quality product offering, expansions, and massive global market opportunity. Overall, I think it is one of the best buy and hold options on the market.

The post Why I would buy Nearmap and these ASX tech shares today appeared first on Motley Fool Australia.

And here are more quality growth shares trading at very attractive prices today. I think all ought to be classed as buys.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Altium and Nearmap Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019