Large tech stocks have lost huge amounts of market capitalization since the beginning of this year but especially in the past two weeks.
On December 31, 2001 the aggregate market value of the 150 largest technology firms was $2.497 trillion.
On April 19, 2002 that group had dropped in value to $2.236 trillion - a decline of 15.6% for the year.
By this past Friday, May 3, 2002, the group was down to $1.942 trillion, down 26.7% on the year.
In just two weeks the 150 largest technology stocks have lost $293.4 billion in total market capitalization - a decline of 13.1%.
Among the biggest declines were the following:
Microsoft lost $41.1 billion, dropping from $57.20 to $49.56 per share (13.4%).
Intel lost $23.8 billion, dropping from $30.10 to $26.56 pe share (11.8%).
Oracle lost $19.6 billion, dropping from $11.93 to $8.43 per share (29.3%).
Ericsson lost $10.7 billion, dropping from $3.54 to $2.29 per share (35.3%).
Sun lost $7.8 billion, dropping from $9.15 to $6.77 per share (26.0%).
Worldcom lost $12.4 billion, dropping from $5.98 to $1.79 per share (70.1%).
Qualcomm lost $7.9 billion, dropping from $37.26 to $26.84 per shareb (28.0%).
Verisign lost $3.2 billion, dropping from $24.53 to $8.75 per share (64.3%).
Other big drops in share price:
EMC is down from $10.79 to $8.01 (25.8%).
JDSU is down from $5.48 to $3.84 (29.9%).
Palm is down from $3.64 to $2.56 (29.7%).
JDSU is down from $5.48 to $3.84 (29.9%).
Juniper is down from $12.04 to $9.05 (24.8%).
Micron is down from $29.50 to $22.61 (23.4%).
i2 is down from $3.79 to $2.68 (29.3%).
Akamai is down from $3.63 to $2.23 (38.6%).
Conexant is down from $12.12 to $8.06 (33.5%).
etc., etc., etc. ....
So, as you can see, it is not just EDIG that lost ground in the past two weeks. For comparison, EDIG dropped from $0.73 to $0.55 (24.7%).
Like I post every week, keep everything in perspective.
JimC
AI
