The smooth sailing for tech companies on the ASX has come to an end, as companies recording soft results this half yearly reporting season have been punished by investors.
This follows 12 months in which investors have been backing away from companies that are trading on high valuations based on builit-in long-term growth opportunities, favouring safer bets on tech stocks that are already recording profits and promise quicker gains.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
