Are you interested in gaining exposure to the tech sector? If you are, then you may want to check out the two ASX shares listed below.
Here's what you need to know about these tech shares:
Image source: Getty Images
BetaShares Global Cybersecurity ETF (ASX: HACK)
The first tech share to look at is actually an ETF that allows you to invest in a number of tech companies. The BetaShares Global Cybersecurity ETF gives investors exposure to the leading companies in the growing cybersecurity sector.
Included in the fund are global cybersecurity players Accenture, Cisco, Cloudflare, Crowdstrike, Okta, Palo Alto Networks, and Splunk. These companies appear well-placed for growth over the 2020s due to increasing demand for cybersecurity services.
In respect to Palo Alto Networks, it is the global leader in cybersecurity solutions. Palo Alto Networks' services include advanced firewalls and cloud-based products that extend firewalls to cover other aspects of security. It has over 85,000 customers across over 150 countries. From these customers it generated a 25% increase in revenue to US$4.3 billion in FY 2021.
Zip Co Ltd (ASX: Z1P)
Another ASX share to look at is Zip. It is of course one of the world's leading buy now pay later (BNPL) providers with operations on several continents.
Zip has been growing at a strong rate over the last few years thanks to the increasing popularity of the payment method and its international expansion. This strong form has continued in FY 2022, with Zip revealing record quarterly revenue of $136.8 million during the first quarter. This was up 89% year on year and 8% quarter on quarter.
The good news is the company still has a very long runway for growth over the next decade thanks to its massive global market opportunity. There has also been speculation that it could be a takeover target if the BNPL industry consolidates.
The team at Morgans is positive on Zip's outlook and believes its shares are very cheap in comparison to peers. The broker currently has an add rating and $8.56 price target on its shares.
