The surging share prices of ASX-listed WiseTech and Life360 have helped Australia’s technology sector more than double the return of the US tech-heavy Nasdaq this year.

The S&P/ASX200 technology index has topped the ASX’s 11 industry groups, returning 56.4 per cent in 2024. That beat the 24.4 per cent return notched by the Nasdaq-100 with its gains largely fuelled by the so-called magnificent seven and optimism about artificial intelligence.