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These 2 ASX tech shares have escaped obliteration so far this year

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.

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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.

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