Company outlooks are driving wild swings in stock prices,despite some strong profit gains.
Global economic headwinds like the US-China trade war,and Brexit,are expected to provide a further tailwind for Australia's tech darling Wisetech which impressed the market on Wednesday with a full year result which beat forecasts it made in June.
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.
Tech companies drove another good day for the market on Monday.
Wisetech shares rose to a record high on Thursday after the company reaffirmed guidance and assured investors that it expects to be a beneficiary of any trade war.
"Whenever the rich lists come out it's the worst time of the year,"Atlassian co-founder Mike Cannon-Brookes told the Sydney Morning Herald and The Age last year.
Technology companies and miners have helped rebuild the ASX.
The tech stocks have been among the ASX's best performers since Christmas,but the last week has been a reminder to investors that it is not a sector for the faint-of-heart.
WiseTech's billionaire founder,Richard White has a message for investors who sold the stock down strongly on Wednesday after its earnings outlook failed to meet the markets high expectations:The company cannot dominate the global logistics tech market by maximising earnings.
He used to have clients like AC/DC and the Angels - but a career shift made Richard a billionaire at age 61.