World News – AU – Top performing ASX 200 technology stocks of 2020


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ASX 200 | A B C D E F G H I J L M N O P Q R S T U V W X

The Motley Fool Australia »Stock Winners» Top-Performing ASX 200 Tech Stocks of 2020

Lina Lim | 4th. January 2021 4:01 pm | More about: APT NXT XRO Z1P

From booming online sales to working from home, COVID-19 accelerated a number of trends that overall benefited ASX 200 technology stocks. The information technology index S&P / ASX 200 (ASX: XIJ) rose by more than 50% in 2020. At the start of a brand new year, let’s take a look at the top performing ASX 200 technology stocks, which have beaten the market many times over in 2020.

It’s no surprise that Afterpay stock price tops the list of the best ASX 200 tech stocks in 2020 after rising nearly 300% last year. More recently, the company had global sales of more than $ 2 billion in November, more than doubling its underlying sales of $ 1 billion in November 2019.

It will be interesting to see how the Afterpay growth story unfolds in 2021, including how the Pagantis acquisition in Europe and developments in the South Asia region unfold.

The price of the NextDC share is in second place and is 87% higher in 2020. At face value, the company has an outrageous valuation of around $ 5. 5 billion on fiscal 20 sales of $ 205. 2 million and an after-tax loss of $ 45 million.

However, investors hope that there are many redeeming factors that will benefit the cloud provider and its future growth path. NextDC announced at its Annual General Meeting in November 2020 that global investments in public cloud services and infrastructure are expected to more than double between 2019 and 2023. The expected cost of the public cloud through 2023 is $ 500 billion, which equates to an average annual growth rate of 22. 3%.

Xero is 3rd Best ASX 200 Tech Share of 2020 with an annual return of 82%. . Xero’s stock price surprised many after breaking the $ 100 mark in September and the $ 150 mark in December.

While small businesses may have experienced significant disruption from lockdowns and social distancing over the year, Xero’s subscriber numbers have continued to grow like there was no pandemic. In the six months until the 30th. September 2020 the company has 396. 000 subscribers added to a total of 2. 453 million while Xero’s operating income grew 21% to $ 409. 8 million.

Zip stock price wins the title of fourth best ASX 200 tech stock of 2020 after closing the year 53% higher. This may come as a surprise as Zip stock appears to have gone nowhere in the second half of 2020 and is underperforming the broader ASX 200 tech stocks. However, the company has achieved a number of key milestones, including completing a 100% acquisition of Quadpay to increase exposure to significant US retail market opportunities.

After the recent $ 120 million raise in capital, investors are hoping that Zip stock price can regain momentum due to the company’s expansion plans in 2021. These plans include accelerating Zip’s US growth, its much anticipated UK launch and expanding its New Markets division, which is focused on exploring opportunities to expand into new regions.

A little-known Australian IPO has doubled since January, and renowned Australian moonshot stock picker Anirban Mahanti sees a potential millionaire waiting. . .

With ‘Doc’ Mahanti believing this fast growing company has all the hallmarks of real moonshot potential, forget ‘buy now, pay later’, this stock could be the next hot stock on the ASX.

Doc and his team released a detailed report on this tiny ASX stock. Find out how to access the NEXT Afterpay today!

Lina Lim has no position in any of the stocks mentioned. Motley Fool Australia’s parent company, Motley Fool Holdings Inc. . owns shares in Xero and ZIPCOLTD FPO. The Motley Fool Australia owns shares in AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). . Authorized by Bruce Jackson.

In this FREE SHARE REPORT, Scott Phillips just revealed what he thinks are the 3 ASX stocks for the post-COVID world that investors should buy now while they still can.

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ASX, Afterpay, S&P / ASX 200, Share Price, Exchange, Zip Co Limited, ASX: APT, Share

World News – AU – Top Performing ASX 200 Technology Stocks of 2020
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