Tesla, Meta the companies that failed to deliver during 2022
Meta, PayPal and Tesla Among Companies to Record Worst Yearly Performance in 2022
There’s no question: 2022 was a bad one for growth and technology stocks. But just how bad? chart reveals
Tweet on Tech stocks during 2022
Meta, PayPal and Tesla Among Companies to Record Worst Yearly Performance in 2022, via @FactSet #TechNews #meta #tesla #PayPal pic.twitter.com/YQHR14C8V1
— The_Journalbiz (@the_journalbiz) January 3, 2023
Factset Chart on tech stock
Tesla wasn’t the only stock to record its worst performance over a calendar year. Companies including Meta Platforms, PayPal and Broadcom also notched their worst years on record, according to Dow Jones Market Data.
Other big tech companies fared only marginally better, in some cases helped by their long track record as public companies.
Amazon.com, Qualcomm and Intel are among those that had their worst years since the early 2000s, when the dot-com bubble burst.
As 2023 kicks off, where Big Tech stocks head next is top of mind for many investors. And few strategists expect an imminent end to the tech selloff.
“Tech stocks won’t likely bottom until there’s more certainty on Fed policy and its impact on corporate earnings,” Jessica Rabe, co-founder of DataTrek Research, wrote last week.
