Local tech darling's books take a hit after its heavyweight clients like Facebook and Google shift resources to new projects in the wake of COVID-19.
Artificial intelligence firm Appen was one of the few ASX high-flyers on Tuesday,after it reported strong earnings growth and said it expected little impact from the coronavirus.
The stratospheric valuation of ASX-listed Appen is built on its role as a platform marrying cheap casual labour with the grunt end of the AI industry.
The local bourse has slipped in subdued trade as individual stocks registered big moves on market-moving announcements.
Shares in one of Australia's hottest tech stocks have shot higher after it upgraded its earnings forecasts.
Local sharemarket closed marginally higher amid hopes of a thaw in the US-China trade war.
Artificial intelligence firm Appen posted a result that beat expectations,but alarmed investors as the performance of its US tech company Figure Eight raised questions about the price paid.
Stock market experts have been warning of a tech bubble for years,but this time it’s different say the doomsayers.
Australia’s high flying tech stocks bore the brunt of Tuesday’s market rout.
Miners,banks and tech stocks bore the brunt of a wide-reaching sell-off on the ASX on Monday.
Tech companies drove another good day for the market on Monday.