Here's a look at the laggards from ASX tech shares last quarter

No comeback for tech players yet in 2022.

Kid with a brown paper bag on his head which has a sad face on it sits in front of an old style computer representing falling ASX 200 tech shares today.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Australian tech shares have been hit hard in 2022 and have yet to stage a full recovery 
  • Several names were rocked very hard whilst others managed to hold onto gains - a list of 6 in total 
  • Earnings are at a low point for the sector, marking their lowest on record in the last 7 years 

Global tech shares have been rocked in 2022 as equity markets test themselves against a morphing investment landscape.

Whilst Australian benchmarks like the S&P/ASX 200 Index (ASX: XJO) have snapped back in the past month of trade, the tech index has failed to enjoy such a luxury.

Instead, the S&P All Technology Index (ASX: XTX) started the year up at 2,984 and slipped down to 2,536 by the quarter's end, eventually booking a 15% loss.

Now as yields on government bonds – also used as the discount rate in share valuations – surge past 3% for the first time in years, pressure remains on heavily volatile tech shares at present.

The trend's been in situ since trade restarted back in January, and there have been some seriously underwhelming performances in that time. Here's a look at the laggards in the tech industry from last quarter.

TradingView Chart

Last place in from March quarter goes to…

Undoubtedly there was some serious carnage last quarter for ASX tech shares. Taking the bottom 41 names in descending order, as a group, the average loss was 31.84% whilst the median loss (exactly in the middle) was 28.43%.

Leading the way was Cettire Ltd (ASX: CTT) with a stunning 68% loss for the three months, whilst Advanced Human Imaging Ltd (ASX: AHI) also lost 67%.

Sezzle Inc (ASX: SZL) wasn't far behind printing a 55.5% backstep for the quarter, whilst Marley Spoon AG (ASX: MMM) topped out the number 10 spot, with a 46% slippage.

In fact, checking a list of the top and bottom performing ASX tech names provided by Bloomberg data, the two top performing names were Brainchip Holdings Ltd (ASX: BRN) and Computershare Ltd (ASX: CPU) at 42% and 24.80% respectively.

However, there were only 6 names that finished in the green, with all the other tickers posted in the top and bottom performing stocks each falling deep into the red.

As a basket, tech shares have been weighed down by a number of non-specific macroeconomic catalysts. Most easy to see is the rotation out of growth and tech shares back into defensible such as mining and financials.

But there's more at play, as we've now got the first conflict in Europe in decades, and let's not forget that crazy little virus called COVID-19.

With the current commodity inflation, backed by the prospects of rising interest rates, this only adds fuel to the fire in these two industries, which appear to have stolen the gains tech shares posted last year.

Not only that, but the tech industry's earnings per share (EPS) are also the lowest in the last 7 years for the segment, according to Bloomberg data.

It remains to be seen where the direction of earnings will go from here.

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. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Cettire Limited and Marley Spoon AG. The Motley Fool Australia has recommended Cettire Limited and Marley Spoon AG. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Happy work colleagues give each other a fist pump.
Technology Shares

Guess which ASX 200 technology stock has outperformed Nvidia over the past 5 years?

This company has been nothing short of impressive.

Read more »

Buy, hold, and sell ratings written on signs on a wooden pole.
Technology Shares

After surging 13% yesterday, are TechnologyOne shares a buy, hold or sell according to Macquarie?

Valuations matter when investing, and Macquarie feels no different.

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Technology Shares

Why Goldman Sachs rates this ASX tech share as a top buy

Let's see why the broker rates this stock highly right now.

Read more »

A woman sits at her computer with her hand to her mouth and a contemplative smile on her face as she reads about the performance of Allkem shares on her computer
Technology Shares

WiseTech shares have surged 34% since April. Is it too late to buy?

Can WiseTech shares keep charging higher? Here’s what this investing expert expects.

Read more »

A man in full American NFL playing kit crouches over with his arms across his chest in a defensive stance against a dark background.
Technology Shares

ASX 300 tech stock charges 7% higher to record high on stellar results

This tech stock delivered another impressive result this morning.

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Technology Shares

Up 87% in 12 months: Why this ASX tech share is still a top buy

This technology business still has loads of potential, according to a fund manager.

Read more »

a group of three cybersecurity experts stand with satisfied looks on their faces with one holding a laptop computer while he group stands in front of a large bank of computers and electronic equipment.
Technology Shares

2 ASX 200 tech stocks Morgans rates as buys

The leading broker has named a couple of shares to buy right now.

Read more »