{"id":119934,"date":"2026-03-12T04:00:45","date_gmt":"2026-03-12T07:00:45","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/898887360"},"modified":"2026-03-12T04:00:45","modified_gmt":"2026-03-12T07:00:45","slug":"3-asx-tech-shares-to-buy-amid-ongoing-tech-wreck","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/12\/3-asx-tech-shares-to-buy-amid-ongoing-tech-wreck\/","title":{"rendered":"3 ASX tech shares to buy amid ongoing tech wreck"},"content":{"rendered":"

S&P\/ASX 200 Index<\/strong> (ASX: XJO) tech shares<\/a> are 4.1% lower on Thursday as the tech wreck continues to plague local stocks. <\/p>\n

The S&P\/ASX 200 Information Technology Index<\/strong> (ASX: XIJ) has fallen by more than 40% over the past six months<\/a>.<\/p>\n

Investors and traders worldwide are worried about high stock valuations and extraordinary AI artificial intelligence (AI)<\/a> capex spending.<\/p>\n

There is also fear that AI will undermine the service offerings of many tech companies, especially software-as-a-service (SaaS) providers. <\/p>\n

That’s a big issue for Australia’s comparatively small tech sector given four of our six biggest companies by market capitalisation<\/a> are SaaS providers.<\/p>\n

We’ve seen some signs of stabilisation in the tech sector since mid-February, starting with a 7% rally in the week ending 22 February<\/a>. <\/p>\n

Since then, ASX tech shares have outperformed, falling 2.2% compared to a 5.1% drop in the benchmark S&P\/ASX 200 Index<\/strong> (ASX: XJO).<\/p>\n

It’s unclear whether a recovery is underway as yet, but if you’re thinking of buying the dip<\/a>, now could be the time. <\/p>\n

On The Bull<\/a><\/em> this week, experts have identified three ASX tech shares that they reckon are firmly in the buy zone. <\/p>\n

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Image source: Getty Images<\/p>\n<\/figcaption><\/figure>\n

WiseTech Global Ltd<\/strong> (ASX: WTC<\/a>)<\/h2>\n

The Wisetech share price is 2.4% lower at $48.05 on Thursday, and down 43% over the past 12 months.<\/p>\n

Wisetech is an SaaS company that develops and provides software solutions for the global logistics industry. <\/p>\n

Wisetech has been in the news after revealing it plans to cut 2,000 jobs over FY26 and FY27 as AI replaces human labour. <\/p>\n

The company reported<\/a> a 76% surge in revenue for 1H FY26, as management spoke of “a deep AI transformation” being underway. <\/p>\n

John Athanasiou from Red Leaf Securities has a buy rating on Wisetech shares.<\/p>\n

He comments: <\/p>\n

\n

First half revenue in fiscal year 2026 exceeded expectations. <\/p>\n

Synergies from e2open were delivered 18 months early and customer retention remains about 99 per cent. <\/p>\n

With dominant network effects across more than 190 countries, improving cost discipline and scalable growth opportunities, WiseTech offers a structurally de-risked path to margin expansion.<\/p>\n<\/blockquote>\n

The Xero share price is down 4.5% to $78.17 today, and down 50% over the past year. <\/p>\n

Xero is also an SaaS business, providing accounting software solutions to small and medium businesses. <\/p>\n

Athanasiou has a buy rating on this ASX tech share as well. <\/p>\n

He says: <\/p>\n

\n

This accounting software provider has been sold off, but fundamentals remain strong. <\/p>\n

Its capital light, subscription based model provides recurring revenue, pricing power and operating leverage. <\/p>\n

Subscriber growth in Australia, New Zealand and the UK is resilient amid expanding margins through improving cost discipline. <\/p>\n

The US market remains under-penetrated, offering options over the long term. <\/p>\n

Artificial intelligence is likely to enhance Xero’s product suite, improving workflow automation and stickiness rather than disrupting revenue. <\/p>\n<\/blockquote>\n

Last month, Xero conducted an investor briefing and released a presentation<\/a> on how it intends to leverage AI opportunities.<\/p>\n

Xero CEO Sukhinder Singh Cassidy said: <\/p>\n

\n

We are deeply focused on capturing the global AI and US accounting plus payments TAM. <\/p>\n

Xero is well positioned to shepherd SMBs into the AI era and take advantage of this technology.<\/p>\n<\/blockquote>\n

Athanasiou says Xero shares are trading below prior multiples, making the risk\/reward<\/a> proposition attractive for long term investors. <\/p>\n

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This is a profitable, global software platform with scale, and current weakness presents an accumulation opportunity for those looking beyond short term sentiment.<\/p>\n<\/blockquote>\n

The Nextdc share price is 1.4% lower at $12.83, and up 1% over the past 12 months.<\/p>\n

NextDC develops and operates data centres across Australia. <\/p>\n

The company reported a 13% lift in total revenue to $231.8 million and a 9% increase in underlying EBITDA to $115.3 million for 1H FY26. <\/p>\n

Nextdc revealed a net loss of $39.4 million, which was an 8% improvement on 1H FY25. <\/p>\n

Elio D’Amato from EnviroInvest reckons this ASX tech share is a buy, commenting:<\/p>\n

\n

NXT sources renewable energy for its facilities and designs highly efficient cooling systems, reducing carbon intensity per megawatt. <\/p>\n

Digital infrastructure is energy intensive, but efficient operators are poised  to benefit. <\/p>\n

Structural demand and execution momentum, in our view, support further upside. <\/p>\n<\/blockquote>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… the service offerings of many tech<\/span> companies, especially software-as … signs of stabilisation in the tech<\/span> sector since mid-February … take advantage of this technology<\/span>. Athanasiou says Xero shares … EnviroInvest reckons this ASX tech<\/span> share is a buy, commenting …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-119934","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/119934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=119934"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/119934\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=119934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=119934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=119934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}