Tech-stock wreck destroys $514B this year.
The bad year for stocks is getting worse by the minute - and tech investors are feeling the brunt of the pain.
The 462 information technology stocks in the broad Russell 3000 index have shredded a total of $514 billion this year thanks to their average decline of 13.4%, according to a USA TODAY analysis of data from S&P Capital IQ.
Crashing stocks have served up a brutal reminder why betting on speculative stocks in the technology sector is dangerous business when investors get nervous about growth. The tech-heavy Nasdaq composite index is the worst hit major index of the major ones investors watch - sliding 12.3% this year while the broader Standard & Poor's 500 is off just 7.8%.
BIGGEST SHAREHOLDER WEALTH DESTROYERS IN TECH
Company, Symbol, Market cap destroyed this year ($ billions), % ch. ytd
Apple, AAPL, -$55.7, -9.5%
Alphabet, GOOGL, -$52.8, -9.9%
Microsoft, MSFT, -$40.7, -9.3%
Intel, INTC, -$24.2, -14.9%
Cisco Systems, CSCO, -$20.8, -15.1%
MasterCard, MA, -$15.4, -14.2%
LinkedIn, LNKD, -$14.6, -49.4%
Visa, V, -$14.4, -7.7%
salesforce.com, CRM, -$12.8, -24.7%
International Business Machines, -$10.8, -8.1%
* Information technology stocks in the Russell 3000
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