These tech companies have charged forth despite a bitter tech winter.
The post These 2 ASX tech shares have escaped obliteration so far this year appeared first on The Motley Fool Australia. –
Despite the carnage that has befallen the tech sector this year, there are a few ASX tech shares that have managed to hold their own.
In light of the implosion across much of the tech sector so far in 2022, it might be insightful to see which ASX tech shares have dodged the damage dealt by markets shifting away from ‘risk-on’ assets.
Here are two tech companies with a positive share price performance since the start of this year.
Tech heads staying above water
The S&P/ASX All Technology Index (ASX: XTX) is down close to 32% since 1 January 2022. At present, this compares to a 7% fall across the much broader S&P/ASX 200 Index (ASX: XJO). In even greater contrast, the utilities and energy sectors are up 20% and 25% respectively.
But a few ASX tech shares have managed to buck the trend, heading north year-to-date (YTD).
Computershare Limited (ASX: CPU)
Rising from the ashes of a burnt-out sector, Computershare is the stock transfer company that has defied the odds this year. It appears investors are content with how the $14.5 billion company has proven to be profitable and pay a consistent dividend.
At the end of December 2021, Computershare recorded US$208.5 million in earnings from US$2.35 billion in revenue. Currently, the company is offering a dividend yield of 2%, which is in line with the industry average.
Since the start of the year, this ASX tech share has garnered enough optimism to push it 16.4% higher. Additionally, as my Foolish colleague Brendon Lau recently pointed out, Computershare has been noted as a potential winner in a rising rate environment.
Brainchip Holdings Ltd (ASX: BRN)
This next share is likely to not only leave tech investors envious, but ASX investors in general. With a 35% gain YTD, Brainchip takes the cake as an ASX tech share that has avoided the recent turmoil.
The artificial intelligence company enjoyed an explosive rally in January during a flurry of announcements. At that time, the Brainchip share price surged as much as 170% in the space of three weeks. Since then, shares have retreated with a few volatile bumps and dips along the way.
Unlike Computershare, this ASX tech share currently lacks any meaningful amount of revenue. Yet, it seems shareholders are adamant they don’t want to miss out on any potential future success, as they hold their shares tightly.
The post These 2 ASX tech shares have escaped obliteration so far this year appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
BrainChip share price rebounds to gain 5%
Why AUB, Block, BrainChip, and Pushpay shares are sinking
Why did the BrainChip share price just crash 17%?
3 ASX All Ordinaries shares that managed to post decent gains on Monday
Why BrainChip, PolyNovo, TPG, and Westpac shares are pushing higher
Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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.