S&P/ASX 200 Index (ASX: XJO) tech stocks delivered another outstanding performance in FY25.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) rose by 23.9%, making it the second-best gainer of the 11 market sectors.

Including dividends, the gross total return for ASX 200 tech share investors was 24.2%.

This compares to a 9.97% increase for the benchmark ASX 200 and total gross returns of 13.8%.

On The Bull this week, two experts have rerated the ASX 200 tech sector's three biggest stocks (by market capitalisation).

Let's find out what they think.

Experts reveal ratings on 3 ASX 200 tech stocks

1. Wisetech Global Ltd (ASX: WTC)

Global logistics software provider, Wisetech, is the largest ASX 200 tech stock with a market cap of $38.5 billion.

The Wisetech share price is currently $116.82, up 1.42% today and up 29% over the past 12 months.

Damien Nguyen from Morgans says Wisetech has a "strong outlook". He has a buy rating on this ASX 200 tech stock.

Nguyen explains:

We believe the share price will continue to grind higher over coming years, driven by WTC's superior supply chain software and expanding global reach.  

Furthermore, the company's consistent profitability, expanding international footprint and strong product adoption make it a compelling buy for long term investors.

2. Xero Ltd (ASX: XRO)

Cloud-based accounting software provider Xero is the second-largest ASX 200 tech stock with a market cap of $29.8 billion.

The Xero share price is $179.56, down 0.8% on Monday and up 34% over the past 12 months.

Nguyen has a hold rating on this ASX 200 tech stock.

In June, Xero announced the $2.5 billion acquisition of the US-based Melio bill payments platform.

Xero announced a significant capital raise to help fund the purchase.

It completed a $1.85 billion institutional placement in June, and a $200 million shareholder purchase plan (SPP) offer closes today.

Nguyen said the Xero share price has risen strongly since April — up about 16% between then and now.

He suggests that new Xero shares investors may want to wait for a dip.

Nguyen comments:

While business fundamentals remain solid and are expected to deliver strong growth over the coming years, potential investors may want to wait for a more attractive entry point.

For existing holders, it makes sense to stay invested and monitor how the company executes its growth plans.

3. Technology One Ltd (ASX: TNE)

Enterprise software company TechnologyOne is the third-largest ASX 200 tech stock with a market cap of $13.4 billion.

TechnologyOne provides software that supports large companies with payroll, human resources, analytics, and other business functions.

Dylan Evans from Catapult Wealth describes TechnologyOne as "Australia's leading enterprise software company".

Evans has a hold rating on this ASX 200 tech stock.

He says:

Technology One has revealed consistent momentum and results for many years, and we're attracted by its reliable and recurring subscription income.

Technology One posted a strong 2025 first half result in May.

The company hit its $500 million annual recurring revenue target 18 months ahead of schedule, and TNE is now targeting $1 billion by 2030.

TechnologyOne shares are trading at $40.05, down 2.4% on Monday.

The stock is among 9 ASX 200 shares that doubled in value in FY25.