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- The technology sector is the fourth largest export sector in Australia.
- Between June 2019 till June 2021, the market cap of the ASX information technology index increased by more than 120%.
- Novatti and Archer Materials are two companies from the tech space that made significant progress lately. Thus, can be explored in November 2021.
The Australian tech sector is the fourth largest export sector, that generated AU$167 billion for the economy in 2020-2021. The market cap of ASX information technology index also increased by more than 120% between June 2019 till June 2021. In the last six months, S&P/ASX All Technology Index has delivered a growth of ~14%. Other ASX-listed tech players also performed well in the past six months.
In this article, we would cover two stocks from the technology sector which can be explored in November 2021.
Novatti Group is a leading fintech company that offers businesses easy payment solutions from any device, anywhere. The company recently awarded acquiring licences by both Visa and Mastercard.
NOV experienced a solid September 2021 ending quarter with existing business operations delivering strong performance. Quarterly sales revenue increased by 49% to AU$5.3 million, up 49% YoY to AU$5.3 million.
2 ASX Technology Stocks on Investors’ Radar - NOV, AXE
Processing revenue improved 100% YoY. By the end September 2021 quarter, the Company had net cash of AU$19.9 million. It completed capital raise of over AU$40 million. The proceeds would be used to expand its presence in existing markets, enter new markets, pursue acquisition opportunities and purchase a 19.9% strategic stake in Reckon Limited.
On 20 October 2021, the Company announced that it would acquire a leading southeast Asian payments fintech ATX.
On 9 November 2021, NOV closed at AU$0.405, representing a 56% YTD return.
Archer Materials is a tech company operating in the semi-conductor industry. It develops and commercialises advanced semiconductor devices, involving chips related to quantum computing and medical diagnostics.
AXE has positioned itself as a pure-play semiconductor company with a major focus on developing the Company’s 12CQ quantum computing chip. It is well-capitalised with net cash of AU$29.4 million and no debt.
In the September 2021 quarter, the Company made considerable technological progress in 12CQ chip development with the initial indication of on-chip qubit control.
AXE’s 100% owned patent application related to its graphene-based biochip technology advanced in September 2021 quarter. Biochip is unique graphene-based biotechnology that supports the complicated detection of some of the deadliest infectious diseases in the world.
On 04 November 2021, the Company provided a technical progress update on its lab-on-a-chip technology, biochip. Now, AXE is creating a biochip that would let tiny quantities of liquid or gas samples be examined. The biochip needs the advanced fabrication of features such as hair-thin microfluidic networks that facilitate sample processing like mixing, chemical or physical outcomes. These channels also let samples transportation to smaller built-in sensors for examining biochemical targets.
On 9 November 2021, AXE closed at AU$1.605, representing a 209% YTD return.
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