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On another difficult Friday afternoon for the stock market, the broad U.S. indexes ended with significant declines.
One element that stood out during such a rough year for technology stocks was that the FAANG group (Facebook holding company Meta Platforms Inc.
FB,
Apple Inc.
AAPL,
Amazon.com Inc.
AMZN,
Netflix Inc.
NFLX,
Google holding company Alphabet Inc.
GOOGL
GOOG
) plus Microsoft lost $1.404 trillion in market capitalization during April. More data about the group’s performance is below.
Index summary
-
On April 29 the Dow Jones Industrial Average
DJIA
was down 939 points (or 2.8%) to close at 32,977.21. The Dow fell 4.9% during April and is now down 9.2% for 2022. (All price changes in this article exclude dividends.) -
The S&P 500 index
SPX
was hit harder, with a decline of 3.6% on Friday. The U.S. benchmark declined 8.8% in April and has now fallen 13.3% in 2022. Among the worst performers on Friday was Amazon, which took a 14% dive after the company reported its first quarterly loss since 2015. -
The Nasdaq Composite Index
COMP
tumbled 4.2% on Friday; its decline for the week was 3.9% and it is now down 21.2% for 2022. One of the highest-profile decliners in the Nasdaq was Teladoc Health Inc.
TDOC,
which was down 42% for the week (although it was up slightly on Friday). The stock plunged 40% on April 28 after the company reduced its outlook for sales and earnings significantly. -
The Nasdaq-100 Index
NDX
fared even worse on Friday, sliding 4.5%. Its one-week decline was 3.8% and it has gone down 21.2% this year.
FAANG summary
Here’s a snapshot of market capitalizations for the FAANG + Microsoft group this year, with data in billions:
| Company | Change in market cap – April | Change in market cap – 2022 through April 29 | Market cap – April 29, 2022 | Market cap – March 31, 2022 | Market Cap – Dec. 31, 2021 |
| Meta Platforms Inc. Class A | -$61.173 | -$379.914 | $542.537 | $603.710 | $922.451 |
| Amazon.com Inc. | -$394.317 | -$426.512 | $1,264.491 | $1,658.807 | $1,691.003 |
| Apple Inc. | -$297.944 | -$361.690 | $2,551.594 | $2,849.538 | $2,913.284 |
| Netflix Inc. | -$81.732 | -$182.889 | $84.572 | $166.304 | $267.461 |
| Alphabet Inc. | -$333.393 | -$413.790 | $1,508.193 | $1,841.586 | $1,921.984 |
| Microsoft Corporation | -$235.778 | -$449.503 | $2,075.581 | $2,311.359 | $2,525.084 |
| Total | -$1,404.336 | -$2,214.298 | $8,026.967 | $9,431.304 | $10,241.266 |
| Source: FactSet | |||||
The FAANG + Microsoft group lost $1.404 trillion in market value during April and its combined market capitalization has now fallen by $2.214 trillion during 2022.
S&P 500 decliners
All sectors of the S&P 500 were down during April, except consumer staples:
| S&P 500 sector | Price change – April | Price change – one week through April 22 | Price change – April 22 |
| Communication Services | -15.8% | -11.5% | -3.6% |
| Consumer Discretionary | -13.0% | -9.5% | -5.9% |
| Information Technology | -11.3% | -3.8% | -4.1% |
| Financials | -10.0% | -6.5% | -3.4% |
| Industrials | -7.6% | -4.8% | -2.6% |
| Health Care | -4.8% | -6.0% | -2.5% |
| Utilities | -4.3% | -6.4% | -3.0% |
| Real Estate | -3.7% | -4.5% | -4.9% |
| Materials | -3.5% | -4.5% | -2.0% |
| Energy | -1.6% | -5.8% | -2.5% |
| Consumer Staples | 2.4% | -1.7% | -2.7% |
| Full S&P 500 | -8.8% | -3.3% | –3.6% |
| Source: FactSet | |||
During April, 79% of the S&P 500 stocks declined, with 144 down at least 10%. Here are the month’s worst 20 performers in the index:
| Company | Ticker | Price change – April | Price change – 2022 | Decline from 52-week intraday high | Date of 52-week intraday high |
| Netflix Inc. | NFLX | -49.2% | -68.4% | -72.8% | 11/17/2021 |
| Align Technology Inc. | ALGN | -33.5% | -55.9% | -60.7% | 09/23/2021 |
| Nvidia Corp. | NVDA | -32.0% | -36.9% | -46.5% | 11/22/2021 |
| Match Group Inc. | MTCH | -27.2% | -40.2% | -56.5% | 10/21/2021 |
| Generac Holdings Inc. | GNRC | -26.2% | -37.7% | -58.2% | 11/02/2021 |
| Etsy Inc. | ETSY | -25.0% | -57.4% | -69.7% | 11/26/2021 |
| PayPal Holdings Inc. | PYPL | -24.0% | -53.4% | -71.7% | 07/26/2021 |
| Amazon.com Inc. | AMZN | -23.8% | -25.5% | -34.1% | 07/13/2021 |
| West Pharmaceutical Services Inc. | WST | -23.3% | -32.8% | -33.7% | 09/09/2021 |
| State Street Corp. | STT | -23.1% | -28.0% | -36.1% | 01/13/2022 |
| Paramount Global Class B | PARA | -23.0% | -3.5% | -38.6% | 06/28/2021 |
| MarketAxess Holdings Inc. | MKTX | -22.5% | -35.9% | -47.2% | 08/05/2021 |
| SolarEdge Technologies Inc. | SEDG | -22.3% | -10.7% | -35.7% | 11/22/2021 |
| Boeing Co. | BA | -22.3% | -26.1% | -42.4% | 06/02/2021 |
| Take-Two Interactive Software Inc. | TTWO | -22.3% | -32.8% | -39.0% | 11/05/2021 |
| Moderna Inc. | MRNA | -22.0% | -47.1% | -73.0% | 08/10/2021 |
| Advanced Micro Devices Inc. | AMD | -21.8% | -40.6% | -48.0% | 11/30/2021 |
| Charter Communications Inc. Class A | CHTR | -21.5% | -34.3% | -48.1% | 09/02/2021 |
| Charles Schwab Corp | SCHW | -21.3% | -21.1% | -31.1% | 02/09/2022 |
| Idexx Laboratories Inc. | IDXX | -21.3% | -21.1% | -31.1% | 02/09/2022 |
| Source: FactSet | |||||
Click on the tickers for more about each company.
You should also read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
