It’s been a year of reckoning for big tech stocks — even those of companies that have consistently grown double-digit sales.
Below is a list of the 20 stocks in the S&P 500 SPX,
Much less in 2022.
First, here’s how the benchmark index’s 11 sectors have performed this year:
| S&P 500 sector | 2022 price change | Forward B/E | Forward P/E as of December 31, 2021 |
|
Energy |
57.8% |
9.6 |
11.1 |
|
applications |
-0.5% |
18.8 |
20.4 |
|
Consumer Staples |
-2.7% |
20.9 |
21.8 |
|
Hygiene |
-3.2% |
17.4 |
17.2 |
|
Factories |
-6.7% |
18.0 |
20.8 |
|
Finance |
-12.1% |
11.7 |
14.6 |
|
materials |
-13.4% |
15.6 |
16.6 |
|
estate |
-27.7% |
16.2 |
24.2 |
|
information technology |
-28.8% |
19.6 |
28.1 |
|
Consumer discretion |
-37.4% |
20.7 |
33.2 |
|
Communication Services |
-40.4% |
14.0 |
20.8 |
| S&P 500 | -19.2% | 16.5 | 21.4 |
|
Source: FactSet |
|||
Only the energy sector has shown a gain in 2022, and even with West Texas Intermediate crude CL.1, it has made a big gain.
It has given up most of its gains earlier in the year. Here it is Why investors are still optimistic about the supply/demand structure for oil and energy stocks.
Looking at the worst-performing sectors, you might wonder why the consumer discretionary and communications services sectors fared worse than the major technology sector, information-technology. One reason is that the S&P Dow Jones Indices can surprise investors with its sector selections. Tesla Inc. in the consumer discretionary sector. Includes DSLA.
and Amazon.com Inc. AMZN,
It is down almost 50% this year. Meta Platforms Inc. in the field of communication. meta,
Match Group Inc. With MTCH,
That’s down 69% in 2022, and Netflix Inc. NFLX,
It is down 52% this year.
There are many easy-to-cite reasons for Big Tech’s decline, including a questionable shift in strategy for Facebook’s holding company Meta, CEO Mark Zuckerberg, who has put many of the company’s resources into creating a new world that most people don’t. At least I still want to enter. Shares of Meta are down 64% year to December 29, 2022.
You can also blame Twitter-related actions Sales CEO Elon Musk’s Tesla shares have plunged 65% of the electric vehicle maker’s stock this year. But Tesla had a forward price-to-earnings ratio of 120.3 at the end of 2021, while the S&P 500 SPX,
It traded at 21.4 times its weighted forward earnings estimate, according to FactSet. Those P/E ratios have now fallen to 21.7 and 16.4, respectively. So Tesla no longer looks like a very expensive stock, especially since it increased its vehicle deliveries by 42% in the year-ago quarter.
Analysts polled by FactSet expect Tesla’s stock to double by 2023. It almost made this list. 20 EV stocks are expected to rise to the highest in 2023.
Worst performing S&P 500 stocks in 2022
The 20 stocks in the S&P 500 were the biggest losers of the year ending December 29, 2022.
| Company | ticker | 2022 price change | Forward B/E | Forward P/E as of December 32, 2021 |
|
Generac Holdings Inc. |
GNRC, |
-71.4% |
13.7 |
30.2 |
|
Match Group Inc. |
MTCH, |
-68.9% |
20.1 |
48.5 |
|
Align Technology Inc. |
ALGN, |
-67.7% |
27.4 |
48.7 |
|
Tesla Inc. |
TSLA, |
-65.4% |
21.7 |
120.3 |
|
SVB Finance Group |
SIVB, |
-65.4% |
10.8 |
23.0 |
|
Catalent Inc. |
CTLT, |
-64.6% |
13.0 |
32.5 |
|
Meta Platforms Inc. Class A |
meta, |
-64.2% |
14.7 |
23.5 |
|
Signature Bank |
SPNY, |
-64.1% |
6.2 |
18.6 |
|
PayPal Holdings Inc. |
PYPL, |
-62.6% |
14.8 |
36.0 |
|
VF Corporation |
VFC, |
-62.5% |
11.9 |
20.4 |
|
Warner Bros. Discovery Inc. Series A |
wbd |
-59.9% |
N/A |
7.5 |
|
Carnival Corp |
CCL, |
-59.8% |
38.1 |
N/A |
|
Stanley Black & Decker Inc. |
SWK, |
-59.8% |
17.0 |
15.9 |
|
Lumen Technologies Inc. |
LUMN, |
-57.8% |
7.7 |
7.8 |
|
Zebra Technologies Corp. Class A |
to collect, |
-56.7% |
14.5 |
30.1 |
|
Dish Network Corp. Class A |
small plate, |
-56.5% |
8.6 |
10.9 |
|
Caesars Entertainment Inc. |
CZR, |
-55.7% |
51.4 |
144.5 |
|
Lincoln National Corp. |
LNC, |
-55.1% |
3.4 |
6.2 |
|
Advanced Micro Devices Inc. |
AMD, |
-55.0% |
17.8 |
43.1 |
|
Seagate Technology Holdings plc |
STX, |
-53.1% |
15.0 |
12.4 |
|
Source: FactSet |
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Another way to measure the biggest stock market losses of 2022
Having a big decline in terms of share price is one thing, but it doesn’t tell the whole story. How much of a decline have investors seen in their stock holdings over the course of a year? According to FactSet, the total market capitalization of the S&P 500 fell to $31.66 trillion as of Dec. 28 (the most recent figure available) and $40.36 trillion at the end of 2021.
The shareholders of these companies have seen the biggest drop in market value in 2022.
| Company | ticker | 2022 Market Capitalization Change ($bill) | 2022 price change |
|
Apple Inc. |
APL, |
– $851 |
-27.0% |
|
Amazon.com Inc. |
AMZN, |
– $832 |
-49.5% |
|
Microsoft Corp. |
MSFT, |
– $728 |
-28.3% |
|
Tesla Inc. |
TSLA, |
– $677 |
-65.4% |
|
Meta Platforms Inc. Class A |
meta, |
– $465 |
-64.2% |
|
Nvidia Corp |
NVDA, |
– $376 |
-50.3% |
|
PayPal Holdings Inc. |
PYPL, |
– $141 |
-62.6% |
|
Netflix Inc. |
NFLX, |
– $138 |
-51.7% |
|
Walt Disney Co. |
DIS, |
– $123 |
-43.7% |
|
Salesforce Inc. |
CRM, |
– $118 |
-47.8% |
|
Source: FactSet |
|||
So here’s your surprise today: Apple is the biggest stock market loser of the year.
Don’t miss: Top stock picks for 2023: Here are Wall Street analysts’ most preferred picks
