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Philip van Doorn

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May 2, 2022, 7:31 a.m. EDT

FAANG stocks plus Microsoft lost $1.4 trillion in market value during April

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By Philip van Doorn

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. , Apple Inc. /zigman2/quotes/202934861/composite AAPL +1.89% , Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +3.60% , Netflix Inc. /zigman2/quotes/202353025/composite NFLX +3.30% , Google holding company Alphabet Inc. /zigman2/quotes/202490156/composite GOOGL +4.16% /zigman2/quotes/205453964/composite GOOG +4.41% ) 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 /zigman2/quotes/210598065/realtime DJIA -0.42% 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 /zigman2/quotes/210599714/realtime SPX +0.16% 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 /zigman2/quotes/210598365/realtime COMP +1.75% 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. /zigman2/quotes/207420252/composite TDOC +11.43% , 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 /zigman2/quotes/210598364/realtime NDX +1.68% 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. /zigman2/quotes/202353025/composite NFLX -49.2% -68.4% -72.8% 11/17/2021
Align Technology Inc. /zigman2/quotes/200300692/composite ALGN -33.5% -55.9% -60.7% 09/23/2021
Nvidia Corp. /zigman2/quotes/200467500/composite NVDA -32.0% -36.9% -46.5% 11/22/2021
Match Group Inc. /zigman2/quotes/207178501/composite MTCH -27.2% -40.2% -56.5% 10/21/2021
Generac Holdings Inc. /zigman2/quotes/208144117/composite GNRC -26.2% -37.7% -58.2% 11/02/2021
Etsy Inc. /zigman2/quotes/202790087/composite ETSY -25.0% -57.4% -69.7% 11/26/2021
PayPal Holdings Inc. /zigman2/quotes/208054269/composite PYPL -24.0% -53.4% -71.7% 07/26/2021
Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN -23.8% -25.5% -34.1% 07/13/2021
West Pharmaceutical Services Inc. /zigman2/quotes/203129862/composite WST -23.3% -32.8% -33.7% 09/09/2021
State Street Corp. /zigman2/quotes/209758976/composite STT -23.1% -28.0% -36.1% 01/13/2022
Paramount Global Class B /zigman2/quotes/200340870/composite PARA -23.0% -3.5% -38.6% 06/28/2021
MarketAxess Holdings Inc. /zigman2/quotes/202710814/composite MKTX -22.5% -35.9% -47.2% 08/05/2021
SolarEdge Technologies Inc. /zigman2/quotes/207754270/composite SEDG -22.3% -10.7% -35.7% 11/22/2021
Boeing Co. /zigman2/quotes/208579720/composite BA -22.3% -26.1% -42.4% 06/02/2021
Take-Two Interactive Software Inc. /zigman2/quotes/204008930/composite TTWO -22.3% -32.8% -39.0% 11/05/2021
Moderna Inc. /zigman2/quotes/205619834/composite MRNA -22.0% -47.1% -73.0% 08/10/2021
Advanced Micro Devices Inc. /zigman2/quotes/208144392/composite AMD -21.8% -40.6% -48.0% 11/30/2021
Charter Communications Inc. Class A /zigman2/quotes/201656355/composite CHTR -21.5% -34.3% -48.1% 09/02/2021
Charles Schwab Corp /zigman2/quotes/201281754/composite SCHW -21.3% -21.1% -31.1% 02/09/2022
Idexx Laboratories Inc. /zigman2/quotes/205324043/composite 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.

Don’t miss: Warren Buffett and Berkshire Hathaway are once again outperforming the stock market. Apple is one big reason but these other 10 stocks also helped.

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