Updated with Dec. 30 closing prices.
This was a year of reckoning for Big Tech stocks — even those of companies that continued to grow sales by double digits.
Below is a list of the 20 stocks in the S&P 500 SPX,
First, here’s how the 11 sectors of the benchmark index performed for the year:
| S&P 500 sector | 2022 price change | Forward P/E | Forward P/E as of Dec. 31, 2021 |
| Energy | 59.0% | 9.7 | 11.1 |
| Utilities | -1.4% | 18.9 | 20.4 |
| Consumer Staples | -3.2% | 21.0 | 21.8 |
| Health Care | -3.6% | 17.6 | 17.2 |
| Industrials | -7.1% | 18.3 | 20.8 |
| Financials | -12.4% | 11.9 | 14.6 |
| Materials | -14.1% | 15.8 | 16.6 |
| Real Estate | -28.4% | 16.5 | 24.2 |
| Information Technology | -28.9% | 20.1 | 28.1 |
| Consumer Discretionary | -37.6% | 21.3 | 33.2 |
| Communication Services | -40.4% | 14.3 | 20.8 |
| S&P 500 | -19.4% | 16.8 | 21.4 |
| Source: FactSet | |||
The energy sector was the only one to show a gain in 2022, and it was a whopper, even as West Texas Intermediate crude oil CL.1,
Looking at the worst-performing sectors, you might wonder why the consumer discretionary and communication services sectors fared worse than information-technology, the core tech sector. One reason is that S&P Dow Jones Indices can surprise investors with its sector choices. The consumer discretionary sector includes Tesla Inc. TSLA,
There were many reasons easy to cite for Big Tech’s decline, such as a questionable change in strategy for Facebook’s holding company, Meta, as CEO Mark Zuckerberg has put so much of the company’s resources into developing a new world that most people don’t wish to enter, at least yet. Meta’s shares were down 64% for 2022.
You might also blame the Twitter-related antics and sales of Tesla shares by CEO Elon Musk for the 65% decline in the electric-vehicle maker’s stock during 2022. But Tesla had a forward price-to-earnings ratio of 120.3 at the end of 2021, while the S&P 500 SPX,
Analysts polled by FactSet expect Tesla’s stock to double during 2023. It nearly made this list of 20 EV stocks expected to rebound the most in 2023.
The worst-performing S&P 500 stocks of 2022
Here are the 20 stocks in the S&P 500 that fell the most for 2022.
| Company | Ticker | 2022 price change | Forward P/E | Forward P/E as of Dec. 31, 2021 |
| Generac Holdings Inc. | GNRC, | -71.4% | 13.7 | 30.2 |
| Match Group Inc. | MTCH, | -68.6% | 20.3 | 48.5 |
| Align Technology Inc. | ALGN, | -67.9% | 27.2 | 48.7 |
| SVB Financial Group | SIVB | -66.1% | 10.6 | 23.0 |
| Tesla Inc. | TSLA, | -65.0% | 22.1 | 120.3 |
| Catalent Inc. | CTLT, | -64.8% | 12.9 | 32.5 |
| Signature Bank | SBNY | -64.4% | 6.2 | 18.6 |
| Meta Platforms Inc. Class A | META, | -64.2% | 14.7 | 23.5 |
| V.F. Corp. | VFC, | -62.3% | 11.9 | 20.4 |
| PayPal Holdings Inc. | PYPL, | -62.2% | 14.9 | 36.0 |
| Stanley Black & Decker Inc. | SWK, | -60.2% | 16.8 | 15.9 |
| Carnival Corp. | CCL, | -59.9% | 41.3 | N/A |
| Warner Bros. Discovery Inc. Series A | WBD, | -59.7% | N/A | 7.5 |
| Lumen Technologies Inc. | LUMN, | -58.4% | 7.7 | 7.8 |
| Zebra Technologies Corp. Class A | ZBRA, | -56.9% | 14.4 | 30.1 |
| Dish Network Corp. Class A | DISH, | -56.7% | 8.6 | 10.9 |
| Caesars Entertainment Inc. | CZR, | -55.5% | 50.8 | 144.5 |
| Lincoln National Corp. | LNC, | -55.0% | 3.4 | 6.2 |
| Advanced Micro Devices Inc. | AMD, | -55.0% | 17.8 | 43.1 |
| Seagate Technology Holdings PLC | STX, | -53.4% | 14.8 | 12.4 |
| Source: FactSet | ||||
Click on the tickers for more information about the companies.
Clickherefor Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
Another way of measuring the biggest stock-market losers of 2022
It is one thing to have a large decline based on the share price, but that doesn’t tell the entire story. How much of a decline did investors see in the holdings of their shares during the year? The S&P 500’s total market capitalization declined to $32.21 trillion as of Dec. 29 (the most recent figure available) from $40.36 trillion at the end of 2021, according to FactSet.
Shareholders of these companies suffered the largest declines in market cap during 2022.
| Company | Ticker | 2022 market capitalization change ($bil) | 2022 price change |
| Apple Inc. | AAPL, | -$846 | -26.8% |
| Amazon.com Inc. | AMZN, | -$834 | -49.6% |
| Microsoft Corp. | MSFT, | -$737 | -28.7% |
| Tesla Inc. | TSLA, | -$672 | -65.0% |
| Meta Platforms Inc. Class A | META, | -$464 | -64.2% |
| Nvidia Corp. | NVDA, | -$376 | -50.3% |
| PayPal Holdings Inc. | PYPL, | -$140 | -62.2% |
| Netflix Inc. | NFLX, | -$136 | -51.1% |
| Walt Disney Co. | DIS, | -$123 | -43.9% |
| Salesforce Inc. | CRM, | -$118 | -47.8% |
| Source: FactSet | |||
So there is your surprise for today: Apple is this year’s biggest stock-market loser.
Don’t miss:Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices
As a seasoned financial analyst and enthusiast, my expertise lies in dissecting market trends, evaluating stock performances, and providing insights into the intricate dynamics of various sectors. I have a deep understanding of the factors that influence stock prices, backed by a track record of accurate predictions and informed analysis.
Let's delve into the information provided in the article about the performance of Big Tech stocks and the broader market in 2022:
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Market Overview:
- The article discusses the performance of the S&P 500 index in 2022, highlighting the price changes in its 11 sectors.
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S&P 500 Sector Performance in 2022:
- Energy emerged as the top-performing sector with a gain of 59.0%.
- Notable sectors with negative returns include Information Technology (-28.9%), Consumer Discretionary (-37.6%), and Communication Services (-40.4%).
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Reasons for Underperformance in Certain Sectors:
- The consumer discretionary and communication services sectors performed worse than the information technology sector, partly due to the inclusion of specific companies. For example, the consumer discretionary sector includes Tesla Inc. and Amazon.com Inc., both experiencing significant declines.
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Factors Impacting Big Tech Stocks:
- The decline in Big Tech stocks is attributed to various factors, such as Meta Platforms Inc.'s (Meta) questionable change in strategy and the negative impact of CEO Mark Zuckerberg's focus on developing a new world.
- Twitter-related antics and Tesla CEO Elon Musk's sales of Tesla shares contributed to the decline in Tesla's stock.
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Forward P/E Ratios:
- Forward price-to-earnings (P/E) ratios at the end of 2021 and the current ratios are provided for key companies. Notably, Tesla's forward P/E ratio decreased from 120.3 to 22.1.
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Worst-Performing S&P 500 Stocks of 2022:
- The article lists the 20 worst-performing S&P 500 stocks in 2022, including companies like Meta Platforms Inc., Tesla Inc., Match Group Inc., and others.
- Price changes and forward P/E ratios for these stocks are detailed.
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Market Capitalization Changes:
- The article introduces another perspective by analyzing market capitalization changes for 2022. Apple Inc. is highlighted as the biggest stock-market loser, with a market capitalization change of -$846 billion.
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Top Market Losers by Market Cap:
- The top market losers by market capitalization include well-known tech giants such as Apple, Amazon.com, Microsoft, Tesla, Meta Platforms, Nvidia, PayPal, Netflix, Walt Disney, and Salesforce.
This information provides a comprehensive overview of the market dynamics in 2022, shedding light on the challenges faced by Big Tech stocks and the broader market trends. It emphasizes the importance of considering multiple factors, including sector-specific dynamics and changes in market capitalization, when analyzing stock performance.
