Nearly a fifth of the S&P 500 index sank to new 52-week lows Thursday led by some of the biggest names in the tech sector.
By early afternoon trading Thursday, at last check, the stock prices of 96 companies on the S&P 500
SPX,
touched fresh 52-week lows, according to FactSet data, with $1.755 trillion market cap Microsoft Corp.
MSFT,
and $1.26 trillion Google parent Alphabet Inc.
GOOG,
GOOGL,
the largest on that list.
At $2.275 trillion, the S&P 500’s largest company by market cap, Apple Inc.
AAPL,
last had its shares at a 52-week low back in June. Rounding out the S&P 500’s largest five companies, both $1.158 Amazon.com Inc.
AMZN,
and $836.42 billion Tesla Inc.
TSLA,
last hit their 52-weeks lows on May 24.
Of the 96 companies hitting 52-week lows on Tuesday, 21 either belong to the S&P 500’s tech sector or belong to its communications services sector which has a large tech presence like Amazon or AT&T Inc.
T,
Other tech companies with a market cap of $50 billion or more hitting 52-week lows Thursday include Nvidia Corp.
NVDA,
Broadcom Inc.
AVGO,
Oracle Corp.
ORCL,
Qualcomm Inc.
QCOM,
Intel Corp.
INTC,
Advanced Micro Devices Inc.
AMD,
and Lam Research Corp.
LRCX,
This post was originally published on Market Watch
