I purchased more at $22.00.
APX is the largest holding in my portfolio, I am very comfortable on all of the fundamentals: management, industry, competitive landscape, product and valuation.
However, I also believe the NASDAQ is in one of the biggest market bubbles the world has ever seen. When it crashes, whether that be in 3 months or 3 years from now, the ASX will not be immune.
The ASX stocks that will be hit hardest are stocks with unjustifiable valuations. High PE tech stocks will be in the firing line, particularly stocks such as APT. High-quality, profitable, value based stocks will be better placed.
However, although APX is broadly in this same technology bucket, I consider it the cheapest of the WAAAX stocks. The valuation at these levels is not eye-watering at all, unlike that of XRO, APT, NXT, MP1, ALU etc.
On a forward year EV/EBITDA of 20x, I am very happy to buy at these levels for a company that is in an industry growing at 28% p.a.
T.E.P.
APX Charts, page-758
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Last
$1.10 |
Change
0.190(21.0%) |
Mkt cap ! $244.1M | |||
| Open | High | Low | Value | Volume |
| 95.5¢ | $1.12 | 95.0¢ | $21.82M | 20.63M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 53102 | $1.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.10 | 12850 | 3 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| APX (ASX) Chart |