It goes without saying that the IT industry had a terrible year in 2022 because of a variety of problems that made it difficult to develop any sense of confidence during the previous 12 months.
Large-scale purchases are being delayed by customers. ongoing problems in the supply chain. China’s “Zero COVID” rules are uncertain. large-scale layoffs. It seemed like there was a new problem every week, which sent Wall Street into a selling frenzy and left the market confused.
And forget about the entire drama surrounding Elon Musk’s $44 billion acquisition of Twitter (TWTR), which lasted for several months.
The data is accurate. In order to get a feel of what investors thought about tech stocks in 2022, one only needs to look at the figures pertaining to the 10 top tech companies by market valuation that are traded in the United States.
And how much market value did those ten companies lose over the course of the previous year?
Try $4.6 trillion all together.
Re-read that: $4.6T.
The statistics are nearly impossible to believe. But over the past 12 months, the market capitalization of the top 10 tech businesses decreased by that total amount (maybe plus or minus a billion dollars).
Apple Stock and Other Semiconductor Stocks Forecast
Apple stock is where the losses begin (NASDAQ:AAPL). The creator of iPhones held the title of the most valuable corporation in the world at the start of the year and did so again at the end of 2022. However, after becoming the first business in history to reach a market capitalization of $3 billion, which it accomplished in January, Apple (AAPL) saw sellers enter the market, and by the end of the year, it had lost about $755 billion in market capitalization, ending 2022 with a market valuation of $2.07 trillion.
Microsoft (NASDAQ:MSFT), which had a $1.79 trillion valuation at the end of 2002 but had lost $726 billion, was the tech stock with the second-largest market cap behind Apple (AAPL). With
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