Why the Appen share price is soaring today

Can the Appen Ltd (ASX:APX) share price set a new record high in 2019?

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

a woman

Shares in language translation, data, machine learning and artificial intelligence business Appen Ltd (ASX: APX) are up 4.3% to $14.86 today and once again approaching a record high of $16.

The Appen share price fell heavily in the final quarter of calendar year 2018 in line with tech and other highly-valued growth shares around the world as investors worried an inverted yield curve pointed to a recession ahead for the US.

However, it seems sentiment and the yield curve have turned with the tech-heavy Nasdaq index in the U.S. starting 2019 with some healthy gains to lead tech shares higher everywhere.

Appen itself has been operating exceptionally well and on 15 November even told investors to expect full year EBITDA to come in between $62 million to $65 million, which compares to prior guidance for EBITDA between $54 million to $59 million.

Appen is not the only hot tech share rising today, with AfterPay Touch Group Ltd (ASX: APT) up 3% to $13.97, and Altium Limited (ASX: ALU) up 1.3% to $23.80.

Motley Fool contributor Tom Richardson owns shares of AFTERPAY T FPO and Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO, Altium, and WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors ended the trading week on a sour note today.

Read more »

Wife and husband with a laptop on a sofa over the moon at good news.
Share Gainers

3 ASX 200 stocks storming higher in this week's slumping market

These three ASX 200 stocks have gained 10% to more than 25% this week despite the broader market retrace. Here’s…

Read more »

Man looking happy and excited as he looks at his mobile phone.
Share Gainers

Why Cobram Estate, EOS, Magellan, and Rio Tinto shares are storming higher today

These shares are ending the week on a positive note. But why?

Read more »

3 children standing on podiums wearing Olympic medals.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were back to hitting the sell button today.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Share Gainers

Why Collins Foods, St George Mining, Whitehaven Coal, and Woodside shares are pushing higher today

These shares are having a good session on Thursday. But why?

Read more »

A panel of four judges hold up cards all showing the perfect score of ten out of ten
Share Gainers

Here are the top 10 ASX 200 shares today

Investors continued to pull the markets back up today.

Read more »

Two happy and excited friends in euphoria holding a smartphone, after winning in a bet.
Share Gainers

Why Brazilian Rare Earths, Lynas, Macquarie Technology, and Ora Banda shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

A woman stands in a field and raises her arms to welcome a golden sunset.
Gold

Why this little-known ASX gold share is leaping 28% on Wednesday

Investors just sent this ASX gold share up more than 28%. But why?

Read more »