After a bearish week for the Nasdaq 100 index which tracks the performance of the exchange’s largest non-financial companies, the index declined by 7.51% from 15,611.59 points to 14,438.40 points, its biggest decline since March 2020, which was Covid-induced.

The bears gained momentum after Netflix reported slowing subscriber growth in the fourth-quarter earnings report released last week. In response, the shares of the company witnessed heavy sell-offs.

Major tech companies under this index also mirrored this decline, some more than others, as we saw companies like Apple Inc, Microsoft, Alphabet and Amazon, losing as high as 12% during the week and 4.57% being the least.

Altogether, the four most capitalized tech companies on the Index worth more than one trillion dollars lost over $600 million during the week.

Stock performance summary

Apple Inc 

Apple Inc share price depreciated from N$173.07 in the previous week to N162.41, reflecting a decline of 6.16% at the end of the week’s trading session.

The decrease in share prices of the most capitalized tech company on the exchange reflected in the decline of the market capitalization from $2.84 trillion to $2.67 trillion taking the loss to $174 billion in market capitalization at the close of trading activities on the Nasdaq Exchange.

The shares of Apple Inc have depreciated by 8.54% from year-to-date, from $177.57 and are currently traded at $162.41. However, the shares of the company have returned about 40% gains for investors who bought them at their 52-week low trading price of $116.21 per share.

Microsoft Corporation 

Microsoft Corporation share price declined from $310.20 to $296.03, reflecting a decline of 4.57% at the end of the week.

The decrease in share prices weighed down the market capitalization from $2.33 trillion to $2.22 trillion supporting a loss of $106.39 billion in market capitalization at the close of trading activities for the week.

The shares of the second-most capitalized tech company have declined by 11.98% from year-to-date, starting the year at $336.32 and currently traded at $296.03. However, the shares of the company have returned about 33% gains for investors who bought them at their 52-week low trading price of $222.42 per share.

Alphabet Inc 

Alphabet Inc share price depreciated from $2,795.73 to $2,601.84, reflecting a decline of 6.94% at the end of the week’s trading session.

The decrease in share prices of the tech company took the market capitalization from $1.86 trillion to $1.73 trillion bringing the loss to $128.70 billion in market capitalization at the close of trading activities.

The shares of the company have depreciated by 3.65% from year-to-date, starting the year at $2,901.49 and currently traded at $2,795.73. However, the shares of the company have returned about 54.55% gains for investors who bought them at their 52-week low trading price of $1,809.00 per share.

 Amazon.com Inc

Amazon Inc share price depreciated by 12.02%, its worst weekly performance since 2018, from $3,242.76 to $2,852.86, at the end of the week’s trading session.

The decrease in the share price of Amazon took the market capitalization from $1.64 trillion to $1.45 trillion taking the loss to $197.74 billion in market capitalization at the close of trading activities.

The shares of the company have depreciated by 14.44% from year-to-date, starting the year at $3,334.34 and currently traded at $2,852.86. The shares of the company, however, have returned about 0.98% loss for investors who bought them at their 52-week low trading price of $2,881 per share.

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