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).
