3 ASX Technology stocks to buy for 2020

At this time of Covid-19 Pandemic, which has derailed the worldwide economy, don’t just punt on any stocks because you are getting bored at home. While many people may consider it risky to invest in tech stocks, our advice to you is to invest in opportunities before these stocks power ahead on a rebound in the tech industry.

Why will Technology Boom?

Technology is a pivotal sector, and the engine that is driving the bounce back in many other sectors. As the economy grows, so will the corporate income. Investing in tech stock provides an investor an opportunity in cashing those gains. For a consistent blue-chip growth one can expect the blue-chip technology stocks to prove strong growth opportunities post COVID.

Stocks to turn your portfolio around:

VEYE has been ahead of the curve when it comes to recommending stocks and plowing the recovery road for our subscribers.

Some of the stocks that have done well are :

WiseTech Global (WTC) is a global developer of cloud-based software solutions for the international and domestic logistics industries in Asia Pacific, the Americas, Europe, the Middle East, and Africa. It was founded in 1994 and is based in Alexandria, Australia.

WTC delivered strong financial results through an unprecedented COVID-19 environment; Revenue and EBITDA growth in line with guidance in addition to positive strategic and financial outlook. VEYE had given a “Buy” on “WiseTech Global Limited” at the price of $17.19 on 28 April 2020. It has given fantastic returns of more than 56% in less than five months till now.

BrainChip Holdings Ltd. (BRN) operates as a holding company. The Company, through its subsidiaries, provides neural computing technology solutions. The company offers artificial neural networks, software, and digital hardware solutions in Australia and the United States. The company was founded in 2011 and is headquartered in Sydney, Australia. On 17 August 2020 announced that it had partnered with Magik Eye Inc.

VEYE gave a “Buy” to “BrainChip Holdings Ltd” at the price of $0.079 on 28 May 2020 and currently stands at  $0.43. It has gained 444% as of today.

Appen Limited (APX) is a publicly traded company, founded in Sydney in 1996, which provides or improves data used for the development of machine learning and artificial intelligence products. It is a global leader in the development of high quality, human annotated datasets for machine learning and artificial intelligence (AI).

VEYE  gave a “Buy” recommendation on “Appen Limited” at the price of $21.99 on 27 February 2020. It has already grown by more than 52% till date.

Mach7 Technologies Limited (M7T)  provides enterprise imaging data sharing, storage, and interoperability solutions for healthcare enterprises worldwide. Founded in 2007, Mach7 Technologies excels as a market leader born of innovation and growing through strategic partnerships. The Company has reported revenues of $18.9 million, growth of 102% over prior year revenue of $9.3 million. After the acquisition of Client Outlook, Mach7 has become increasingly less reliant on investor funding and has demonstrated the scalability of the business.

VEYE gave a “Buy” recommendation on “Mach7 Technologies Limited” at the price of $0.33 on 23 May 2019 and at $0.79 on 10 June 2020. It returned more than 240% in less than sixteen months on the initial recommendation and then and more than 42% till Sept 2020 on the latest one. On each and every buy call, the stock has given very good returns.

Looking at VEYE’s history, our investors have benefited from the advice on stocks given by us. Many companies have grown tremendously where we have recommended when the companies were undervalued. It’s imperative to invest now before they are sky-scraping in the post COVID free world.

You must, however, keep in mind that not every company may grow as expected.