2 outstanding ASX tech shares to buy and hold until 2030

Why Altium Limited (ASX:ALU) and this ASX tech share could be among the best buy and hold options on the Australian share market…

| More on:
tech asx share price represented by man wearing smart glasses

Image source: Getty Images

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

Given the quality on offer, the tech sector has been tipped as a great place to look for buy and hold investment options.

But which ASX tech shares should you buy for the long term? Two to consider are listed below:

Altium Limited (ASX: ALU)

Altium is a leading electronic design software provider. The company's software is used to design the complex circuit boards that you'll find inside almost all electronic devices. Altium has a large number of blue chip customers using its platform. This includes BAE Systems, Dell, Microsoft, and NASA.

The good news for Altium is that due to the artificial intelligence and internet of things (IoT) booms, there has been a proliferation of electronic devices over the last decade. This rapid growth is expected to continue over the next decade, which should underpin growing demand for its award-winning software.

In fact, according to Statista, there were 22 billion IoT devices globally at the end of 2018. This is forecast to grow to 50 billion by 2030.

In light of this, it is no wonder that management is confident in its growth trajectory. So much so, it is targeting revenue of US$500 million by 2025-26. This will be a 150% increase on FY 2020's revenue.

Analysts at Credit Suisse currently have an outperform rating and $35.00 price target on Altium's shares.

Appen Ltd (ASX: APX)

Another tech share to buy and hold could be Appen. It appears very well positioned for long term growth thanks to both the increasing importance and spending on artificial intelligence.

In order for artificial intelligence models to work, they need to be trained to a high standard. This is where Appen comes in. Through its team of over one million skilled contractors around the globe, the company provides or prepares the training data for artificial intelligence models. It counts the likes of Amazon, Apple, Facebook, Google, and Microsoft as current and/or former customers.

The company also looks well-placed to benefit from increased spending on artificial intelligence by governments. This is thanks to its Figure Eight business, which has a long history of working in this sector.

And while COVID-19 has put a dampener on its growth this year, management expects to bounce back strongly once the crisis passes.

Analysts at Macquarie also appear confident that this will be the case and have just put an outperform rating and $27.00 price target on Appen's shares.

Should you invest $1,000 in Commonwealth Bank Of Australia right now?

Before you buy Commonwealth Bank Of Australia shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Commonwealth Bank Of Australia wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

A woman presenting company news to investors looks back at the camera and smiles.
Growth Shares

2 ASX growth shares to supercharge your portfolio

Analysts think these shares could be in the buy zone for growth investors right now.

Read more »

A group of people gathered around a laptop computer with various expressions of interest, concern and surprise on their faces. All are wearing glasses.
Growth Shares

Turn $300 into significant wealth: 3 explosive ASX opportunities for Aussie investors

Analysts think these shares could be great picks for growth focused investors.

Read more »

A man looking at his laptop and thinking.
Growth Shares

What I'd buy with $2,000 on the ASX right now

Here are three options for investors to look at this month.

Read more »

Silhouette of CEO standing in conference room looking out at cityscape.
Growth Shares

3 founder-led ASX 200 shares with serious long-term upside

Let's see what makes these shares top picks according to analysts.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Growth Shares

Where to invest $5,000 in ASX 200 shares in May

Analysts think that these shares could be top picks for Aussie investors next month.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Growth Shares

3 fantastic ASX growth shares to buy with $2,000 in May

Analysts think these shares would be top picks for growth investors right now.

Read more »

A man points at a paper as he holds an alarm clock.
Growth Shares

3 ASX 200 stocks to buy and hold forever without thinking twice

Here's why these shares could be great buy and hold options for investors.

Read more »

A person with a round-mouthed expression clutches a device screen and looks shocked and surprised.
Growth Shares

3 unstoppable ASX growth shares to buy and hold for the long term

Analysts have good things to say about these top stocks.

Read more »