- Kiwis can look to invest in the Australian market as it gives them access to several blue-chip firms.
- Australia is a technologically advanced country with its tech sector as the major earner.
- Zip, Xero and BrainChip are some of the ASX-listed tech stocks that can be explored by Kiwis.
Kiwis can look to invest in the Australian market as it gives them access to several blue-chip firms and there are low-cost alternatives available to make ASX investments.
Australia is a technologically advanced country with its tech sector as the major earner. The sector helps Australia to develop a skill base by providing highly skilled jobs and supporting innovation and productivity in other sectors by adopting customised technology solutions.
Kiwis can invest in the ASX directly or through brokers or managed funds.
On this note, let’s look at 3 ASX tech stocks that can be explored by Kiwis.
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Zip Co Limited (ASX:ZIP)
Engaged in digital retail finance and the payments industry, Zip has a market cap of $687.2 million. On 12 May, at the time of writing, Zip shares were trading at $0.95, down 5%.
Zip delivered a 39% rise in revenue and a 27% increase in transaction volume in Q3. The firm also plans to enhance its scale and offering in the key US market through its proposed acquisition of US BNPL Sezzle.
Zip has raised $172.7 million through institutional placement and SPP. The Group looks to welcome game-changing merchants in Q4 and remains well funded to execute the significant market opportunity.
Xero Limited (ASX:XRO)
Cloud-based accounting software firm Xero has a market cap of $13.04 billion. On 12 May, at the time of writing, Xero shares were trading at $76.92, down 11.6%.
Xero announced its FY22 results on 12 May, posting 29% rise in operating revenue to $1.1 billion and a 28% rise in annualised monthly recurring revenue to $1.2 billion. The Group’s EBITDA witnessed a rise of 11% and total subscribers increased by 19% to 3.3 million in FY22.
Total operating expenses are likely to be between 80-85% in FY22. XRO plans to continue growing its global small business platform and reinvest the cash produced.
BrainChip Holdings Ltd (ASX:BRN)
Software and hardware-enhanced solutions provider for AI and ML applications, BrainChip Holdings, has a market cap of $1.839 billion. On 12 May, at the time of writing, BrainChip shares were trading at $1.11, up 3.76%.
Brainchip became the first commercial producer of neuromorphic AI chips and IP in 2021. The Company has achieved technical advancements in Akida brain-inspired Neuromorphic AI architecture and has engaged in vital development collaborations.
The Group got a complete Akida advanced neural network processor installed in 2 novel development kit formats in Q4. BHP plans to focus on practising and maintaining patent protection for all current and future developments.
Tech shares have been witnessing high volatility in an uncertain environment amid concerns about rate hikes, the Russia-Ukraine war, the oil crisis, etc.
(NOTE: Currency is reported in AU Dollar unless stated otherwise)