Many Tech Stocks Are in Bear Market Territory, Down Up to 69% from Highs
A list of major tech stocks shows declines ranging from 12% to 69% from their record highs, indicating that several are deep in bear market territory, even as the S&P 500 remains relatively resilient.
A compilation of data from The Kobeissi Letter highlights the steep declines many prominent technology stocks have suffered from their all-time highs. The list includes Coinbase (COIN) down 69%, Oracle (ORCL) and Salesforce (CRM) each down 57%, ServiceNow (NOW) down 56%, and Netflix (NFLX) and Palantir (PLTR) both down 48%.
Other notable decliners: Microsoft (MSFT) -37%, Meta (META) -32%, Arm Holdings (ARM) -27%, Broadcom (AVGO) -26%, and Marvell Technology (MRVL) -20%. Even the largest names have seen significant pullbacks: Nvidia (NVDA) and Amazon (AMZN) are down 19%, Alphabet (GOOGL) -17%, CrowdStrike (CRWD) -15%, Apple (AAPL) -14%, and Taiwan Semiconductor (TSM) -12%.
These figures underscore that while the S&P 500 index may not reflect it, many individual tech stocks are trading well below their peaks, with several exceeding the typical -20% threshold for a bear market.
Source: The Kobeissi Letter