Category: Stock Market

Two of the best performers on the ASX 200 index this year have been Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS) shares.

Since the start of 2022, the Allkem share price has risen 32% and the Pilbara Minerals share price has risen an even stronger 58%.

This compares favourably to the ASX 200 index, which is down 11% over the same period.

Why are Allkem and Pilbara Minerals shares outperforming?

The key driver of these gains has been sky high lithium prices.

Unlike the growing number of lithium explorers on the Australian share market, these two companies are already pulling significant quantities of lithium out of the ground and benefiting from this strong pricing.

In fact, in FY 2022, Allkem reported a profit after tax of US$337.2 million, up from a net loss of US$89.5 million a year earlier.

And over at Pilbara Minerals, it reported a profit after tax of A$561.8 million compared to a loss of A$51.4 million in FY 2021.

The good news for investors is that with lithium prices tipped to remain strong for the foreseeable future and their production continuing to increase, brokers are tipping Allkem and Pilbara Minerals shares to keep on rising.

But which one can rise highest from here?

According to a recent note out of Macquarie, its analysts have an outperform rating and $21.00 price target on Allkem’s shares. Based on the current Allkem share price of $14.74, this implies potential upside of 42% for investors over the next 12 months.

As for Pilbara Minerals, the team at Macquarie has an outperform rating and $5.60 price target on its shares. This implies modest upside of 3.3% for investors based on the current Pilbara Minerals share price of $5.42.

Based on what Macquarie is saying, Allkem is the lithium share to buy right now.

The post Which has more upside, Allkem or Pilbara Minerals shares? appeared first on The Motley Fool Australia.

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More reading

• 3 excellent ASX growth shares analysts rate as buys
• Here are the top 10 ASX 200 shares today
• Why Allkem, Karoon Energy, Stanmore Resources, and Whitehaven Coal are charging higher
• Charging up: Here are the 3 top performing ASX lithium shares of Q1
• Allkem share price higher on Sal de Vida lithium project update

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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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Healthcare share Incannex Healthcare Ltd (ASX: IHL) was added to the S&P/ASX 300 Index (ASX: XKO) last month.

The company is a clinical-stage pharmaceutical company with a focus on developing medicinal cannabinoid products and psychedelic therapies to help those with unmet medical needs.

Speaking on the company’s inclusion in the index, Incanncex CEO and managing director Joel Latham said:

We’re delighted to be … listed among the largest and most-recognisable companies in Australia.

Being listed in the index is a precursory investment condition for many domestic and international investment institutions so we are excited for the possibilities this recognition may bring.

But does adding the healthcare share to the ASX 300 expand the index’s unprofitable constituents? Let’s take a look at the company’s balance sheet to find out.

Is ASX 300 healthcare share Incannex profitable?

Healthcare share Incannex is among 16 shares added to the ASX 300 in the September quarterly rebalance. And the company is one of many being included in the rebalance that isn’t turning a profit.

Incannex brought in $788,654 of income in financial year 2022. However, that was nowhere near enough to cover the company’s costs.

In fact, it wasn’t even a third of the company’s advertising and investor relations spend – sitting at $2.7 million. Incannex also forked out $5.3 million on research and development and $2 million on employee salaries and benefits.

All in all, the ASX 300 healthcare company posted a total after-tax loss of $14.9 million for financial year 2022.

Though, it ended the period with $37.5 million of cash and no debt, meaning it’s not in dire need of capital.

Its cash position was bolstered back in April when it underwent a $24 million options exercise program. Additionally, the company listed on the Nasdaq in March.

Finally, Incannex finalised its acquisition of APIRx Pharmaceuticals in August.

Sadly, the company’s productive year hasn’t been reflected in its share price’s performance.

The stock has fallen 51% in 2022 so far to trade at 32 cents right now, including a 14% gain on Friday. That’s 0.6% higher than it was this time last year.

For comparison, the ASX 300 has slumped 11% year to date and 7% over the last 12 months.

The post Is ASX 300 healthcare company Incannex profitable? appeared first on The Motley Fool Australia.

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More reading

• Why has the Incannex share price rallied 20% in 2 weeks?
• Have Incannex Healthcare shares been a good investment in 2022?

Motley Fool contributor Brooke Cooper 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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There was no clear direction for ASX hydrogen shares in the first quarter of financial year 2021. Though, many of the market’s favourites posted notable movements.

As some jumped close to 70%, others dumped a quarter of their value.

And while all that was happening, the broader market stayed relatively flat. The benchmark All Ordinaries Index (ASX: XAO) fell just 1% over the three months ended 30 September.

So, what went on with some of the market’s most notable ASX hydrogen shares in the September quarter? Let’s take a look.

Peaks and troughs for ASX hydrogen shares in Q1

ASX hydrogen shares put on a mixed performance over the first quarter, with some, like Frontier Energy Ltd (ASX: FHE), posting major gains.

The Frontier Energy share price lifted 68% over the period, closing September at 37 cents.

The company worked to secure a water supply needed to produce green hydrogen using energy from its Western Australia-based Bristol Springs Solar Project.

Its agreement with Water Corporation – announced on Thursday – will save the company from kicking off its back-up plan – building a desalination facility.

The Province Resources Ltd (ASX: PRL) share price also had a great quarter, gaining 54% to trade at 8 cents.

The big news from the company behind the HyEnergy Project last quarter came in August when it announced it had secured an additional 2,217 square kilometres of land for the project.

The Pure Hydrogen Corporation Ltd (ASX: PH2) share price also had a good run in the September quarter, gaining 23% to close the period at 27 cents.

However, the quarter wasn’t a good one for every major ASX hydrogen share.

The Hazer Group Ltd (ASX: HZR) share price dumped 25% over the period, slumping to trade at 57 cents.

The major drag on the stock was news a critical part of its demonstration plant had failed, delaying the company’s planned hydrogen production until 2023. The stock fell 17% on the back of the news.

And while most of its income comes from non-hydrogen sources, the S&P/ASX 200 Index (ASX: XJO) iron ore giant behind hydrogen-focused Fortescue Future Industries, Fortescue Metals Group Limited (ASX: FMG), saw its share price fall 4% last quarter.

The post There were big winners and losers among ASX hydrogen shares in Q1. Here’s the lowdown appeared first on The Motley Fool Australia.

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More reading

• Why Fortescue’s green hydrogen plans just got a $13 million boost
• Is the October outlook brightening for the Fortescue share price?
• The Fortescue share price has just capped off a disappointing quarter. What now?
• Fortescue share price higher on green hydrogen update
• Here’s why the Fortescue share price was crushed in September

Motley Fool contributor Brooke Cooper 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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It’s been a hard slog for ASX investors in 2022.

The S&P/ASX 200 Index (ASX: XJO) is down 10.7% year to date, but at times losses have hit 15%.

It’s never nice to look out to a sea of red in your portfolio, but arguably what’s worse this year has been the volatility.

In a matter of weeks the market has dropped 15% only to see it spike up 10% in a matter of days, giving everyone false hope.

Such uncertainty stresses humans, who crave a sense of control.

Financial expert Brian Feroldi certainly empathised with investors in a recent newsletter.

“Inflation. War. Supply chain. Interest rates. Bear market. Hurricanes. COVID.

“With so many macro concerns, it’s not hard to understand why pessimism is running rampant today.”

He admitted even the hardiest of buy-and-hold advocates would struggle to deal with this year’s “constant drumbeat of pessimism”.

“2022 has been a tough year on so many fronts. Our portfolios have been walloped. Inflation is at a 40 year high,” said Feroldi.

“How can investors keep their heads on straight when the world appears to be crumbling?”

Feroldi answered his own question with three suggestions:

1. Stop reading the news

Watching or reading the newspaper or television news is a daily habit for most people. 

But following the minutiae of every event that could impact your ASX shares is unhelpful for keeping a long-term focus.

Feroldi suggests blocking out the noise.

“I haven’t voluntarily watched the news in over a decade. This has done wonders for my mental health,” he said.

“Quitting the news isn’t easy, but voluntarily watching the news is like inviting Debbie Downer into your home and asking her to talk non-stop. If the news is truly important, it will find you.”

2. Learn history

For Feroldi, people who exclaim “we are living in the worst time ever” have no idea about what previous generations have suffered.

“It’s not even close! Study history to see what life was like during the US civil war, WWI, the Cuban Missile crisis, WWII, the Great Depression, the Bubonic Plague, or the Spanish flu.”

Investors need to get some historical perspective to combat their pessimism.

“We’ve had it much worse in the past. And yet, we’ve always found a way through.”

3. Find a supportive community

If you want to be more optimistic, then hang out with optimistic people!

“Nothing lifts my mood more than communication with a tribe of like-minded optimists.”

In the age of the internet, finding others who are following the same path as you is easier than it has ever been.

Feroldi even suggested this very website is an excellent place to network.

“Twitter, Reddit, Facebook, The Motley Fool, Meetup — all are wonderful resources for connecting with people that can lift your mood when things look bleak.”

Ironically, the internet is also the reason why some people can feel pessimistic.

“The truth is that there are always reasons to be pessimistic. We’re just more aware of them today than ever before,” said Feroldi.

“History shows that human ingenuity always triumphs in the long-term, even when the short-term looks precarious.”

The post ASX shares getting you down? Here are 3 ways to fight pessimism appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 2 ASX 200 dividend shares to buy next week
• 3 excellent ASX growth shares analysts rate as buys
• 2 high quality blue chip ASX 200 shares that experts rate as buys
• Here are the top 10 ASX 200 shares today
• Brokers name 3 ASX shares to buy today

Motley Fool contributor Tony Yoo 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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Are you looking for some dividend options for your income portfolio next week? If you are, then take a look at the two ASX 200 dividend shares listed below that analysts at Goldman Sachs rate as strong buys.

Here’s why the broker is positive on them:

Elders Ltd (ASX: ELD)

The first ASX 200 dividend share to that the broker rates highly is Elders. It is an agribusiness company that provides services to rural and regional customers across the ANZ region.

Goldman Sachs likes the company due to its positive growth outlook, acquisition opportunities, and its margin expansion potential. The broker commented:

We view ELD as well-positioned to achieve continued organic growth through market rationalisation and margin expansion as the company executes on the backward integration strategy, which it is c.50% of the way through. Organic growth looks set to be complemented by further bolt-on acquisitions, with c.620 independents in the Australian market with a steady stream of founders now looking at succession or exit opportunities. We forecast a further +7% EBIT growth in FY23 vs. Bloomberg consensus of -13%.

In respect to dividends, Goldman is forecasting dividends per share of 50 cents in FY 2022 and 53 cents in FY 2023. Based on the current Elders share price of $12.51, this would mean yields of 4% and 4.2%, respectively.

Goldman Sachs also sees plenty of upside ahead for its shares. It currently has a conviction buy rating and $21.00 price target on them.

Westpac Banking Corp (ASX: WBC)

Another ASX 200 dividend share that Goldman Sachs rates as a strong buy is banking giant Westpac.

The broker likes Australia’s oldest bank due to its major cost cutting programme and exposure to rising rates. It explained:

We continue to see WBC as our preferred exposure to the A&NZ Financials reflecting: i) its strong leverage to rising rates, ii) while we think its A$8 bn FY24 cost target will now be unachievable, we still forecast a 7% reduction in underlying expenses, iii) its recent market update highlighted that the business is still investing effectively in its franchise.

As for dividends, Goldman is forecasting fully franked dividends per share of 123 cents in FY 2022 and 135 in FY 2023. Based on the current Westpac share price of $21.88, this will mean yields of 5.6% and 6.2%, respectively.

Goldman also has Westpac on its conviction list. The broker currently has a conviction buy rating and $26.12 price target on the bank’s shares.

The post Goldman Sachs names 2 ASX 200 dividend shares to buy next week appeared first on The Motley Fool Australia.

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More reading

• The Westpac share price has fallen the most of the ASX 200 big four banks over the past year. So, is it a cheap buy?
• How did the Westpac share price manage to beat the ASX 200 in September?
• Here’s how ASX 200 bank shares fared in the shocker month of September
• These ASX dividend shares have been tipped as buys by experts
• Will the Westpac share price rebound in October?

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 recommended Elders Limited and Westpac Banking Corporation. 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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Are you looking to add some growth shares to your portfolio when the market reopens?

If you are, three ASX growth shares that could be worth considering are listed below. Here’s what you need to know about them:

Allkem Ltd (ASX: AKE)

The first ASX growth share to consider is Allkem. It is one of the world’s largest lithium miners with projects in Argentina, Australia, and North America. From these projects, the company is aiming to grow its production in a manner that allows it to maintain a 10% share of global lithium supply over the long term. And with lithium prices at such high levels and tipped to remain strong in the coming years due to demand outstripping supply, Allkem appears well-placed to grow its earnings and potentially start paying dividends.

Macquarie’s analysts are bullish on Allkem and have an outperform rating and $21.00 price target on its shares.

Aristocrat Leisure Limited (ASX: ALL)

Another ASX growth share that has been tipped as a buy is Aristocrat Leisure. It is one of the world’s leading gaming technology companies with a portfolio of world class pokie machines and a growing digital business. The former continues to win market share thanks to their popularity with casinos and players. Combined with the strong recurring revenues being generated by digital/mobile games such as Raid and its potential expansion into the real money gaming market, the company has been tipped to continue its solid earnings growth over the coming years.

Morgans is positive on the company and has an add rating and $43.00 price target on its shares.

ResMed Inc. (ASX: RMD)

A third and final growth share that has been named as a buy is ResMed. It is a sleep treatment-focused medical device company that has been tipped to continue its strong growth over the coming years. This is thanks to its world class product portfolio, a major competitor recall, and its massive global market opportunity. In respect to the latter, management estimates that there are 1 billion people impacted by sleep apnoea worldwide, with only ~20% of these sufferers currently diagnosed. As education around sleep disorders grows and more sufferers are diagnosed, demand for ResMed’s products is likely to increase.

Goldman Sachs is bullish on ResMed and has a buy rating and $36.80 price target on its shares.

The post 3 excellent ASX growth shares analysts rate as buys appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why Allkem, Karoon Energy, Stanmore Resources, and Whitehaven Coal are charging higher
• Allkem share price higher on Sal de Vida lithium project update
• Good times keep rolling for ASX lithium shares on Thursday
• What’s the outlook for ASX 200 mining shares in Q2?

Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. 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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Have you got room for a blue chip ASX 200 share or two in your portfolio? If you have, then take a look at the blockbuster blue chips listed below.

Here’s why they are highly rated:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company.

Over the last decade, Goodman has built a world class portfolio of in-demand properties that have exposure to key growth markets such as ecommerce and logistics. This has helped drive strong earnings growth for many years.

And with the company still possessing a material development pipeline and strong demand continuing, Goodman has been tipped to continue its solid growth in the coming years by the team at Goldman Sachs.

In light of this, the broker has put a buy rating and $25.40 price target on the company’s shares. This compares to the latest Goodman share price of $16.46.

REA Group Limited (ASX: REA)

Another ASX 200 blue chip share that has been tipped as a buy is REA Group. It is the dominant player in real estate listings in the Australian market with its realestate.com.au website.

While rising interest rates are likely to put pressure on listing volumes in the near term, REA still appears well-placed for growth in the coming years. This is thanks to new revenue streams, cost cutting, strong pricing power, its international operations, and acquisitions. The latter saw REA grow its presence in mortgage broking through the acquisition of Mortgage Choice last year.

Morgans is very positive on the company and has an add rating and $143.00 price target on its shares. This compares to the latest REA share price of $124.80.

The post 2 highly rated blue chip ASX 200 shares that experts rate as buys appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Macquarie reveals ASX 200 shares ‘more likely to outperform in a bear market rally’
• Should you really be buying ASX shares in this market?
• Are these beaten down ASX 200 shares going cheap?
• 2 ASX 200 blue chip shares that Goldman Sachs rates as buys

Motley Fool contributor James Mickleboro 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 recommended REA Group Limited. 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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The S&P/ASX 200 Index (ASX: XJO) broke a three-day winning streak on Friday. The index dumped 0.8% to close the week at 6,762.8 points. That marks a 4.46% week-on-week improvement.

 It followed a similarly disappointing night on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1.1% on Thursday while the S&P 500 Index (SP: .INX) slipped 1% and the Nasdaq Composite Index (NASDAQ: .IXIC) dropped 0.7%.

The S&P/ASX 200 Energy Index (ASX: XEJ) led the market on Friday, gaining 0.9% as oil prices rose once more following the OPEC+’s latest production cuts.

The Brent crude oil price lifted 1.1% overnight to US$94.42 a barrel, while the US Nymex crude oil price rose 0.8% to US$88.45 a barrel.

Meanwhile, the S&P/ASX 200 Real Estate Index (ASX: XRE) was once again the market’s biggest weight, falling 2%.

All in all, only one of the index’s 11 sectors closed higher today. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

The Karoon Energy Ltd (ASX: KAR) share price topped the ASX 200 for the first time since its inclusion on the index. The gas and oil explorer announced its Bauna royalty rate reduction has been approved this morning.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Karoon Energy Ltd (ASX: KAR)	$2.26	9.18%
Whitehaven Coal Ltd (ASX: WHC)	$10.96	4.78%
Allkem Ltd (ASX: AKE)	$14.74	3.15%
Imugene Limited (ASX: IMU)	$0.195	2.63%
Viva Energy Group Ltd (ASX: VEA)	$2.78	2.21%
Santos Ltd (ASX: STO)	$7.90	1.94%
Coronado Global Resources Inc (ASX: CRN)	$2.01	1.77%
Capricorn Metals Ltd (ASX: CMM)	$3.23	1.66%
IGO Ltd (ASX: IGO)	$5.3515.43	1.65%
Qantas Airways Limited (ASX: QAN)	$5.35	1.52%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• How did the BrainChip share price manage to smash the ASX 200 in Q1?
• Why is the Santos share price having such a stellar end to the week?
• Why Allkem, Karoon Energy, Stanmore Resources, and Whitehaven Coal are charging higher
• What’s the outlook for ASX 200 energy shares in Q2?
• Is there any stopping the Whitehaven share price?

Motley Fool contributor Brooke Cooper 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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Bank of Queensland Ltd (ASX: BOQ)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and $10.00 price target on this regional bank’s shares. This is despite the broker expecting a below consensus full year profit next week when the bank releases its results. Looking ahead, Credit Suisse is feeling positive on Bank of Queensland’s outlook due to rising interest rates and potential net interest margin expansion. The Bank of Queensland share price is trading at $6.90 on Friday.

Domain Holdings Australia Ltd (ASX: DHG)

A note out of UBS reveals that its analysts have retained their buy rating but trimmed their price target on this property listings company’s shares to $4.00. Although UBS acknowledges that listing volumes will be soft and has reduced its forecasts accordingly, it feels the market is being too bearish. Particularly given strong employment levels and tight rental markets. In light of this, it feels recent weakness in the Domain’s share price has created a buying opportunity for investors. The Domain share price is fetching $3.34 today.

Eagers Automotive Ltd (ASX: APE)

Analysts at Morgans have retained their add rating and $14.58 price target on this auto retailer’s shares. According to the note, the broker highlights that in September new vehicle sales were up 12.1% year over year and 6.1% over 2019 levels. And while it notes that demand is softening in the US and the same could happen in Australia, the broker points out that there is limited evidence of this to-date. The Eagers Automotive share price is trading at $11.64.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• 4 ASX 200 directors who raised the stakes in their company shares in September
• Is CBA the best ASX 200 bank share to buy for dividend income?
• Has the Bank of Queensland share price got 25% upside baked in?
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro 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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Artificial intelligence chipmaker BrainChip Holdings Ltd (ASX: BRN) saw its share price rocket upwards last quarter.

As a comparison, its 8.75% rise spanked the S&P/ASX 200 Index (ASX: XJO), which fell 1.4%.

The benchmark index would have presumably done worse if BrainChip wasn’t a constituent!

Let’s take a look back at the three months ending September to see what excited investors about the computer chip maker.

Riding the wave of market sentiment

BrainChip started the quarter on a high after it was admitted to the ASX 200 in late June.

After that, the major event to influence the market was its annual financial results, announced in August.

Revenue was spectacularly up 529% year-over-year to US$4.83 million. However, operating loss held steady at US$8.56 million.

The BrainChip share price spiked on the day, although it gave back those gains in the days following.

Other than that, there were no official announcements to the ASX that could have impacted the stock price.

It seems movements in the BrainChip share price over the quarter were largely macroeconomics-driven.

Growth and technology shares generally headed upwards between the end of June to mid-August, but had given back some of those gains by September.

The S&P/ASX All Technology Index (ASX: XTX), to demonstrate, enjoyed a 21% rally from the start of the quarter to 15 August. BrainChip shares soared 39% over the same period.

One of the few tech winners in 2022

In a year when most technology stocks have struggled, BrainChip has been a shining light. 

Its shares have gained 128% over the past 12 months as it tries to transition from the pre-revenue stage to the commercialisation of its AI chips.

Over the past year, BrainChip has impressed the market with new deals with the likes of space agency NASA and car maker Mercedes Benz Group AG (FRA: DAII).

The post How did the BrainChip share price manage to smash the ASX 200 in Q1? appeared first on The Motley Fool Australia.

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More reading

• Down 25% in a month, what’s in store for the Core Lithium share price in October?
• If you’d bought $2,000 of NAB shares at the end of FY22, here’s how much you’d have now
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• Experts tip when inflation will peak, and it could be soon

Motley Fool contributor Tony Yoo has positions in Brainchip Holdings Ltd. 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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