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,
