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It goes without saying that the tech sector has had a rough time in 2022 as several issues have made it difficult to generate any sense of confidence.
Customers are stopping large-scale purchases. Continuous supply chain issues. Uncertainty over China’s “Zero Covid” policies. Major job cuts. Almost every week, there’s another problem that sends Wall Street into sell mode and leaves the market scratching its head in confusion.
And never mind what happened in the months-long deal for Elon Musk’s Twitter (TWTR) valued at $44B.
Numbers don’t lie. And the numbers behind the 10 largest tech companies traded in the United States by market value are all one really has to watch to get an idea of what investors think about tech stocks in 2022.
And how much did those 10 companies lose in market value last year?
Try a total of $4.6T.
Read again: $4.6T.
The numbers are almost too big to believe. But that’s the combined amount the 10 biggest tech companies have lost in market value over the past 12 months (probably give or take a billion dollars).
The loss starts with Apple (NASDAQ:AAPL). The iPhone maker started the year as the world’s most valuable company and ended 2022 with that title. However, after becoming the first company in history to reach 3B in market capitalization — which it accomplished in January — Apple ( AAPL ) lost an estimated $755B in the market as sellers stepped in and ended the year. cap, to end 2022 at a market value of $2.07t.
Among technology stocks, behind Apple (AAPL) in overall market cap was Microsoft (NASDAQ:MSFTIt ended 2002 at a value of $1.79T and decreased by $726B in 2002. Google parent company Alphabet ( GOOG ) managed to stay in the trillion dollar market cap club, but barely, with a valuation of $1.15T, down from about $787 billion since the start of the year.
The rest of the 10 biggest tech companies, based on year-end market value and how much they could lose in 2022:
Amazon (NASDAQ: AMZN): The e-commerce/streaming/cloud storage titan ended the year with a market cap of $857B, down 50%, with a loss of $856B.
Tencent Holdings (OTCPK:TCEHY): The Chinese technology and investment giant ended 2022 with a market cap of $405B, or $150B less than at the start of the year.
Taiwan Semiconductor (TMM): The market value of the world’s largest chip foundry fell by $193 billion this year, ending at $386.3B.
Nvidia (NVDA): The Santa Clara, Calif.-based graphics chip maker’s market cap in 2016 was In 2022 To set itself up for 2023, $373B is lost at a cost of 364B.
Facebook’s parent meta platforms (NASDAQ: META) has had one of the biggest market value losses in percentage terms, with its value falling by 60%, or about $450B, ending in 2022 at a market value of $320B.
Broadcom ( AVGO ), down about $45B, to close the year with a market cap of $233.7B, and Alibaba ( BABA
Alibaba ( BBA ), down about $82B, ended the year with a market cap of $233.2B.
And as 2022 comes to an end, the next chapter for the tech sector will be the upcoming earnings reports, which will start rolling out in late January. One of the reasons Apple ( AAPL ) investors are bullish is what the company is saying about issues affecting the production of various iPhone 14 models.
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