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

Index summary

On April 29 the Dow Jones Industrial Average
DJIA,
-2.77%
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
SPX,
-3.63%
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
COMP,
-4.17%
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.
TDOC,
+0.75%,
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
NDX,
-4.47%
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.

NFLX,
-4.59%

-49.2%

-68.4%

-72.8%

11/17/2021

Align Technology Inc.

ALGN,
-4.84%

-33.5%

-55.9%

-60.7%

09/23/2021

Nvidia Corp.

NVDA,
-6.24%

-32.0%

-36.9%

-46.5%

11/22/2021

Match Group Inc.

MTCH,
-3.00%

-27.2%

-40.2%

-56.5%

10/21/2021

Generac Holdings Inc.

GNRC,
-5.97%

-26.2%

-37.7%

-58.2%

11/02/2021

Etsy Inc.

ETSY,
-8.53%

-25.0%

-57.4%

-69.7%

11/26/2021

PayPal Holdings Inc.

PYPL,
-4.52%

-24.0%

-53.4%

-71.7%

07/26/2021

Amazon.com Inc.

AMZN,
-14.05%

-23.8%

-25.5%

-34.1%

07/13/2021

West Pharmaceutical Services Inc.

WST,
-3.17%

-23.3%

-32.8%

-33.7%

09/09/2021

State Street Corp.

STT,
-2.72%

-23.1%

-28.0%

-36.1%

01/13/2022

Paramount Global Class B

PARA,
+0.24%

-23.0%

-3.5%

-38.6%

06/28/2021

MarketAxess Holdings Inc.

MKTX,
-2.92%

-22.5%

-35.9%

-47.2%

08/05/2021

SolarEdge Technologies Inc.

SEDG,
-1.57%

-22.3%

-10.7%

-35.7%

11/22/2021

Boeing Co.

BA,
-3.49%

-22.3%

-26.1%

-42.4%

06/02/2021

Take-Two Interactive Software Inc.

TTWO,
-3.02%

-22.3%

-32.8%

-39.0%

11/05/2021

Moderna Inc.

MRNA,
-5.69%

-22.0%

-47.1%

-73.0%

08/10/2021

Advanced Micro Devices Inc.

AMD,
-4.60%

-21.8%

-40.6%

-48.0%

11/30/2021

Charter Communications Inc. Class A

CHTR,
-7.15%

-21.5%

-34.3%

-48.1%

09/02/2021

Charles Schwab Corp

SCHW,
-4.04%

-21.3%

-21.1%

-31.1%

02/09/2022

Idexx Laboratories Inc.

IDXX,
-3.99%

-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.

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