Australian tech stocks track downbeat tech-heavy Nasdaq, hit 7-month low

Megaport

21/11/2025 24:54

** Shares of Australian tech stocks .AXIJ fall as much as 3.3%, their lowest level since April 10

** Sub-index tracks tech-heavy Nasdaq, which ended lower overnight, as AI darling Nvidia's NVDA.O upbeat quarterly forecast failed to woo investors on the sustainability of an AI boom .N

** Sector falls 3.1% so far this week, on track for its fourth consecutive weekly loss

** NZ's Xero XRO.AX loses 1.3% while Megaport MP1.AX falls over 6%

** Stock down nearly 19% this year, including the day's move

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))