The S&P/ASX 200 Index (ASX: XJO) has stagnated over the past month, falling over 3%. 

However, some pockets are gaining strong momentum. 

There are several themes and sectors capturing strong tailwinds in the back half of 2026. 

Here are some ASX ETFs ignoring the broader market downturn and charging ahead. 

Cybersecurity ASX ETFs

One theme that is outperforming right now is cybersecurity. 

The strong rise in cybersecurity-related stocks over the past six months reflects a broader shift in how investors view the impact of AI on the sector.

Initially, there were concerns that AI would make cybersecurity less valuable by automating vulnerability detection and reducing the need for traditional security solutions. 

However, the market has increasingly recognised that AI is also making cyberattacks more sophisticated, scalable and difficult to defend against, creating greater demand for cybersecurity products and services. 

The rapid adoption of AI, cloud computing and digital infrastructure is expanding the potential attack surface for businesses, while growing cyber threats are encouraging companies and governments to increase security spending. 

This has strengthened expectations for long-term revenue and earnings growth across the cybersecurity industry, particularly among leading providers, and has driven a significant re-rating of the sector. 

Two beneficiaries of this trend are BetaShares Global Cybersecurity ETF (ASX: HACK) and Global X Cybersecurity ETF (ASX: BUGG). 

These funds have risen by 37% and 47% in the last 6 months and could be set up for long-term success if these tailwinds continue. 

Global healthcare and biotech ASX ETFs

The healthcare and biotechnology sector has benefited from a combination of strong innovation, improving investor sentiment and the potential for significant new markets. 

Advances in areas such as obesity treatments, oncology, gene therapy and precision medicine are creating opportunities for companies to develop new therapies with very large commercial markets, while the rapid adoption of AI in drug discovery and clinical development is raising expectations that medicines can be developed more efficiently.

These tailwinds have benefited ASX ETFs BetaShares Global Healthcare ETF – Currency Hedged (ASX: DRUG) and Global X S&P Biotech ETF (ASX: CURE). 

Both have enjoyed significant momentum in recent months, and could be top buys heading into the back part of 2026. 

Gaming and Esports 

After a rough first 6 months of the year, another ASX ETF harnessing strong momentum is Betashares Video Games And Esports ETF (ASX: GAME). 

It has risen 13% since late July thanks to renewed investor confidence in the long-term growth of interactive entertainment.

The industry continues to benefit from the shift towards digital distribution, recurring revenue through subscriptions and in-game purchases, and the growing global audience for gaming, while major new game releases can create significant bursts of revenue and engagement.

At the same time, the sector is increasingly benefiting from advances in AI, which have the potential to reduce development costs, improve game creation and enable more personalised and dynamic gaming experiences.

The post These ASX ETFs are generating big momentum in the second half of 2026 appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Finding ASX growth shares trading at half their broker targets is unusual, but right now there are several doing just that.

Earnings season has ended and analysts have refreshed their price targets across hundreds of companies.

The three below have all fallen heavily over the past year.

All three are still growing earnings, which is what makes the gap interesting.

Why these ASX growth shares were sold off

The cause is the same in each case.

Interest rate expectations have moved sharply, with all four major banks now forecasting another rise this year.

Higher rates hit companies valued on distant earnings hardest, and they hit companies funding growth with debt harder still.

None of these three fell because of a downgrade.

Each of them reported growth in FY26.

1. NEXTDC Ltd (ASX: NXT)

NEXTDC closed Tuesday at $12.52 after falling 14% in a month.

UBS has a buy rating with a $23.45 target, implying 88% upside.

The FY26 result was a record.

Net revenue rose 16% to $405.0 million and underlying EBITDA rose 15% to $248.8 million, both above guidance.

Contracted utilisation surged 202% to 740.1 megawatts and statutory net profit turned positive at $82.1 million.

FY27 guidance points to net revenue of $615 million to $640 million, growth above 50%.

The catch is the capital expenditure required to deliver it, guided at $5.25 billion to $5.75 billion.

2. Nine Entertainment Co Holdings Ltd (ASX: NEC)

Nine Entertainment is the cheapest and most contrarian of the three.

Shares closed at 86 cents, down 48.19% over twelve months and barely above a 52-week low of 83.5 cents.

Morgan Stanley has a buy rating with a $1.40 target, implying 63% upside.

FY26 revenue rose 3% to $2.19 billion on a continuing business basis and group EBITDA jumped 17% to $379 million.

Net profit after tax increased 7% to $142.4 million and earnings per share before amortisation rose 11% to 9.3 cents.

The QMS Outdoor acquisition contributed $55 million of EBITDA in its first three months.

Similarly, digital subscription revenue grew 12%, and Nine has signed content licensing deals for AI applications including one with Microsoft.

Chief executive Matt Stanton explained the reshaping of the portfolio.

Over the past 12 months, we have made material changes to our business portfolio, focusing on growth and digital assets whilst reducing our exposure to structurally challenged and smaller assets. These transactions add to our operational scale and create a higher growth and more resilient Nine, better positioned to create long term sustainable value for our shareholders.

The final dividend of 3.0 cents is unfranked, and management expects that to continue.

3. Zip Co Ltd (ASX: ZIP)

Zip has the most bullish coverage on the ASX.

All twelve analysts covering the company rate it a buy or strong buy, with an average target of $4.56 against a $2.31 share price.

That implies roughly 95% upside, with the most optimistic target at $6.03.

FY26 cash EBTDA rose 57.9% to $268.9 million and revenue climbed 24.7% to $1,336.1 million.

Net profit after tax increased 45.7% to $116.4 million and the operating margin expanded from 15.8% to 20.0%.

Management has guided FY27 cash EBTDA to $340 million, up around 26%.

The United States now produces about two-thirds of revenue, and that is where the growth is coming from.

Foolish takeaway

Broker targets are opinions, not forecasts, and a 90% implied upside usually means high uncertainty rather than free money.

What these three ASX growth shares share is a market that has repriced their respective multiples.

I would rather buy a company growing revenue at 16% to 25% after a 50% fall than chase one already compounding.

The post 3 ASX growth shares experts think could double appeared first on The Motley Fool Australia.

More reading

• NextDC shares have fallen 14% in a month. Is the AI data centre boom over?
• Can Zip shares recover? Here’s what the experts have to say
• 6 ASX shares tipped by brokers to rise 34% to 87%
• Experts tip battered Zip shares to deliver over 90% returns
• These are the 10 most shorted ASX shares

Motley Fool contributor Mark Verhoeven has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Microsoft. The Motley Fool Australia has recommended Microsoft and Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

September could be a good time to put some fresh money to work on the S&P/ASX 200 index (ASX: XJO).

But where should you invest? 

I would be looking for high-quality businesses with strong market positions and plenty of room to grow over the long term.

With that in mind, here are three ASX 200 shares I think could be top buys this month.

Goodman Group (ASX: GMG)

Goodman could be one of the best ASX 200 shares to buy in September.

The integrated property company has built a global platform around industrial real estate, with warehouses, logistics facilities, and large-scale development sites across major markets.

That alone is a strong business. But arguably the most exciting part of the story is what Goodman is doing with data centres.

Artificial intelligence (AI) and cloud computing are driving huge demand for computing infrastructure, and data centres need land, power, planning approvals, and access to major population centres.

These are all areas where Goodman has an advantage. The company already has deep customer relationships, a strong development pipeline, and experience working with large industrial sites.

I think that gives Goodman a good chance of becoming an even more important infrastructure player over the next decade.

ResMed Inc (ASX: RMD)

ResMed is another ASX 200 share I would consider buying this month.

It is a global medical device leader with a focus on treating sleep apnoea and other respiratory conditions through masks, software, and connected healthcare products.

The long-term opportunity remains extremely large. Millions of people around the world suffer from sleep-related breathing problems, and many have not yet been diagnosed or treated.

In fact, the company estimates that there are over 1 billion people suffering from sleep apnoea, potentially giving ResMed a multi-decade growth runway.

Xero Ltd (ASX: XRO)

A third ASX 200 share to buy in September could be cloud accounting software company Xero.

It has built a platform that helps small businesses and accountants manage invoicing, payroll, reporting, bank feeds, payments, and other financial tasks.

And while AI may change how accounting work is done, Xero is not a narrow tool that can be easily replaced by one feature. Instead, AI could help automate more of the work already taking place across its platform.

Xero also has a large opportunity in markets such as the United States, where its market share remains low.

Its shares can be volatile, but I think the company has a very strong long-term growth outlook.

The post Top 3 ASX 200 shares to buy in September appeared first on The Motley Fool Australia.

More reading

• NextDC shares have fallen 14% in a month. Is the AI data centre boom over?
• Forget CSL shares. 3 ASX healthcare stocks with bigger upside
• Xero and Megaport: 2 ASX tech shares the market can’t agree on
• Which ASX shares win when the Aussie dollar is strong?
• Home values decline for a 5th straight month – what does it mean for ASX real estate shares?

Motley Fool contributor James Mickleboro has positions in Goodman Group, ResMed, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group, ResMed, and Xero. The Motley Fool Australia has positions in and has recommended ResMed and Xero. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.