Image by Dave Hostad from Pixabay
You know what sounds fun? A bear market! Could be a shop with bear-themed gifts. Could be a place where bears shop. Could be a market run by bears. Sounds fun!
Of course, in the real world, a bear market refers to a stock market that’s fallen 20%. Use it in a sentence? Sure! “Tech stocks have officially entered a bear market.” That is an example sentence from Barron’s (via Apple News+). According to the report:
Since closing on Nov. 19 at 16,057.44, the Nasdaq Composite has now fallen 20.1%, crossing the 20% threshold that traditionally defines a bear market. It’s the first time the market has taken a hit that hard since the early months of the pandemic in 2020.
The following list is not for those with weak stomachs. According to Barron’s:
Amazon is down 25%
Tesla is down 29%
NVIDIA is down 35%
Meta (aka Facebook) is down 46%
Had enough? Too bad.
“Buy now, pay later” specialist Affirm Holdings is down 75%
Roblox is down a not nice 69%
Shopify is down 67%
Zoom is down 57%
And, I am sad to say, that list goes on.
Kind of beating the tech sector are Google and Microsoft. The former is only down 15%, while the latter is only down 18%. I say “only” because it’s not 20.1%. While there “haven’t been many places for tech investors to hide,” according to Barron’s, there has been safety in Cupertino to this point. According to the site:
Apple has been one of the stock market’s best hiding places, with a decline of less than 1% since the market top. An aggressive purchaser of its own shares, Apple is seen as a refuge, protected by both ongoing strong demand for the company’s flagship product, the iPhone, and a sterling balance sheet.
