XRO, WTC, ALU, SQ2: ASX tech stocks to watch out for in July

Image Source: Image source: © Nmedia | Megapixl.com

Highlights: 

  • The S&P/ASX200 index closed 1.112% higher on the ASX today, and all the 11 sectors ended in green today. 
  • Information Technology sector also performed well today and has attracted investors’ attention to the ASX. 

Today, the S&P/ASX 200 index closed in the green territory. Interestingly, all the 11 sectors under the ASX 200 closed in the green zone on the ASX today. The S&P/ASX 200 index (ASX:XJO) closed 1.112% higher after gaining by 72.7 points to 6612.6 on the ASX today. 

Although the Energy sector was on top of the ‘best performers’ list today, the ASX 200 Information Technology sector was no less. 

The S&P/ASX 200 Information Technology sector (ASX:XIJ) closed 1.588% strong at 1362.3 on the ASX today.  

In this article, we have focused on the share price performance of some of the leading ASX-listed tech stocks, such as Xero, WiseTech, Altium, and Block. 

 

Xero Limited (ASX:XRO) 

The shares of one of the leading tech stocks, Xero Limited (ASX:XRO), closed 2.337% strong at AU$78.81 per share on the ASX today, 4 July 2022. 

In last one year, Xero’s shares have fallen over 42% on the ASX. Meanwhile, on a year-to-date (YTD) basis, Xero’s share price fell over 46% on the ASX as of 4 July 2022.

Just any other Australian firm, Xero’s business also suffered in the past couple of months due to RBA’s interest rate hike.

WiseTech Global Limited (ASX:WTC) 

Another important company in the ASX Information Technology sector is WiseTech Global Limited (ASX:WTC). Today, WiseTech closed 2.435% strong on the ASX today (4 July) at AU$38.7 per share.  

The share price performance of WiseTech has also been impacted by RBA’s interest hike in the past couple of months, as its share price lost by almost 8% in the last month. Furthermore, WiseTech’s year-to-date share price also fell over 35% on the ASX as of 4 July. 

The company’s shares have also been vulnerable to market volatility as its share price gained over 20% on the ASX in last one year. 

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Altium Limited (ASX:ALU) 

Another leading player in the ASX tech industry is Altium Limited (ASX:ALU), which also closed in green territory today. Shares of Altium Limited closed 1.262% higher on the ASX today (4 July), at AU$27.27 per share. 

The shares of Altium are continuing to struggle amidst inflation and RBA’s hiked interest rate. As a result, Altium’s share price lost by 24.63% on the ASX in the last one year. Moreover, Altium’s share price also lost by almost 39% on the ASX on a year-to-date (YTD) basis.   

Block Inc. (ASX:SQ2) 

The shares of the global fintech company, Block Inc. (ASX:SQ2), closed 5.124% higher at AU$92.52 per share on the ASX today (4 July). 

The shares of this leading tech stock also struggled through several challenges in the past one year. As a result, its share price has lost by almost 48% on the ASX. 

Even in the past one month, Block had shed its share price by over 20% on the ASX. This probably happened because the company’s business is getting impacted due to inflation and RBA’s interest hike.  


 


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