The S&P/ASX200 Information Technology Index (ASX: XTJ) has rocketed more than 25% higher this year as a number of big-name Aussie tech stocks have seen their share prices shoot higher.
What's driving the solid tech sector performance?
Some of the top performing stocks on the market this year sit within the Information Technology sector including Afterpay Touch Group Ltd (ASX: APT), Altium Ltd (ASX: ALU) and Appen Ltd (ASX: APX).
The Altium share price has surged 62% higher in 2019 and reached a record high of $35.59 in Friday's trade despite no company-specific announcements being made. Altium continues to trade strongly on the back of a US tech rebound and outperformance in its recent half-year results.
It's been a similar story for fellow ASX200 member Appen, which has seen its share price lead all-comers in the S&P/ASX200 Index (ASX: XJO) with an 80% share price appreciation since the start of January.
Appen continues to surprise investors and even outperformed its own upgraded full-year guidance with revenue climbing 119% to $364.3 million and underlying net profit after tax (NPAT) climbing 148% higher to $49 million.
The Afterpay share price has rebounded more than 70% so far this year as the company's expansion into the US shows signs of potential success and concerns over greater regulation or business model change arising from a recent Senate inquiry have subsided.
Is it too late to jump into the tech sector?
While many growth stocks have struggled so far this year, the tech sector continues to outperform and shows no sign of slowing down.
The likes of Afterpay, Altium and Appen have rocketed higher but I think they could go even further given strong earnings and the economy holding up for the time being.
For those who think they've missed the boat on these three, I'd suggest checking out these top growth shares that have been tipped as market beaters.
