FNArena’s Weekly Insights – September 23 2024

In this week’s Weekly Insights:

-Growth Is Not A Dirty Word
-FNArena On Tour

By Rudi Filapek-Vandyck, Editor

It was by no means a universal outcome, with some of the smaller cap companies delivering unexpected negative surprises, but the Technology sector crowned itself as the best performing segment on the ASX throughout the August reporting season.

It wasn’t just about WiseTech Global ((WTC)), whose share price has been handsomely rewarded this year (40% up post August result), but equally about Car Group ((CAR)), Hub24 ((HUB)), Pro Medicus ((PME)), REA Group ((REA)), ResMed ((RMD)) and smaller cap companies such as Bravura Solutions ((BVS)), Breville Group ((BRG)), Codan ((CDA)), DUG Technology ((DUG)), Electro Optic Systems ((EOS)), Life360 ((360)) and Temple & Webster ((TPW)).

Not all of these names are part of the local Technology Index, but respective core businesses very much revolve around new innovations and keeping up with the latest developments in technological advances and breakthroughs. In extension, we might even include some of the direct beneficiaries of Gen.Ai, Goodman Group ((GMG)) & Co, which are not technology companies in se, but their growth momentum and attraction is very much related to the latest megatrend, which is technology-driven.

For most of these companies, in particular the large caps, August has not been a one-off.