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The Best And The Worst Tech Stocks Of 2022 (So Far)
It’s been a rough six months for stock markets and IT stocks have been hit particularly hard. Here’s a look at the (few) companies whose share price increased in the first half of 2022 and the 10 companies with the biggest share price declines.
Tech Stocks Tumble As Stock Markets Plummet
For stock markets, the first six months of 2022 was the worst first half of a year since 1970. The major stock indices have been on a downward trajectory since the start of the year, driven by economic uncertainty, inflation, ongoing supply chain issues and other forces.
Between the start of the trading year on Jan. 3 and the close of trading on June 30, the Dow Jones fell 15.27 percent to close at 30,775.43, while the tech-heavy Nasdaq plunged 29.90 percent to close at 11,028.74.
Of all 59 tech stocks in the CRN watch list, only four recorded price gains in the first half of 2022—two of which were due to pending acquisition deals. The remaining 55 saw the value of their shares fall, nearly all by double-digit percentages and 10 losing more than 50 percent of their total value.
Major IT vendors like Apple (down 23 percent), Microsoft (down 23 percent), and Cisco Systems (down 32 percent) largely saw the price of their shares decline between 20 percent and 40 percent in the first half of 2022. Younger companies and/or companies that have gone public in recent years generally suffered the biggest declines of 40 percent or more.
Here‘s a look at the biggest stock price winners and losers in 2021. We start with the four companies that recorded share price gains in the first six months of 2022, counting down to the IT vendor with the biggest stock price gain.
Then we list the 10 companies whose stock prices declined the most, concluding with the IT vendor with the biggest loss.
The rankings are based on the opening share prices on Jan. 3, 2022, and the stock closing prices on June 30, 2022.