Ten Big Tech Stocks Lost $4.6T Market Cap in 2022

The 10 top tech stocks lost a combined $4.6 trillion in market cap in 2022.

Amazon led the way by losing about $856 billion in market cap — nearly half its market valuation — over the last 12 months, Seeking Alpha reported Saturday (Dec. 31).

Alphabet, the parent company of Google, saw the next biggest drop in terms of the amount of dollars, as its market cap fell by $787 billion, according to the report.

The third-biggest loss was seen by Apple, which lost $755 billion in market valuation after achieving a market cap of $3 billion — and becoming the first company to ever do so — in January, the report said.

Next on the list is Microsoft, which ended the 12 months with a market cap that was $726 billion lower than the one with which it started, per the report.

Rounding out this top 10 — comprised of the biggest tech companies in terms of their market cap at the end of 2022 — and their losses in market valuation are Meta Platforms, which was down $450 billion; Nvidia, down $373 billion; Taiwan Semiconductor, down $193 billion; Tencent Holdings, down $150 billion; Alibaba, down $82 billion, and Broadcom, down $45 billion.

The report attributed these widespread declines in market capitalization in the tech sector to delays in spending by consumers, supply chain issues, China’s challenges with COVID-19, job cuts and a continuous stream of bad news that impacted market confidence.

Along those same lines, one landmark achieved during 2022 was Amazon becoming the first public company to see its market cap drop by $1 trillion.

The company reached that landmark figure between its record close at a market value of $1.88 trillion in July 2021 and its market cap of $879 billion on Nov. 9.

PYMNTS has reported on the challenges faced by connected economy and tech stocks during this “terrible 2022” through its CE 100 Index.

While this index was up 0.5% in the final five trading days of 2022, it was down 35.7% for the year.