The automaker’s stock has been plummeting since September, and eventually finished down 65% on the year. Tesla saw 40% growth in deliveries last year, but that was not enough to satisfy investors. Macroeconomic issues aside, simply being able to roll new vehicles off the assembly line proved to be a challenge as supply chain issues persisted. Although Coinbase avoided any major controversies last year, its stock was still hammered, falling 86% on the year. The so-called crypto winter, collapse of NFT transactions, and even bigger collapse of FTX, spelled tough times for any company that specialized in crypto. Semiconductor stocks, like NVIDIA (-50%) and TSMC (-38%) were hit particularly hard. Meta, which is in the midst of building out its vision for a “metaverse”, also saw one of the biggest declines, shedding $464 billion in market cap. In absolute terms, Apple is the biggest loser on the year, shedding $846 billion from its market cap. The list below, which shows the largest declines in the S&P 500, puts into perspective just how much value was wiped out in the tech sector this year.
The tech sector, from semiconductors to software, saw steep declines across the board last year. We’ve scanned the sea of red for sectors to dig into. Unlike the winning side of the equation, there’s no lack of material to cover in this section.
While the markets usually finish up, down years can happen. The LosersĢ022 was the worst year for the S&P 500 since the 2008 financial crisis. Lockheed Martin (+38%) capped off a strong year with a cool half a billion dollar contract from the U.S. The company will be busy building rocket boosters that will help put Amazon’s 3,000+ communications satellites into orbit in coming years. Northrop Grumman (+41%) saw healthy gains, powered by its space segment. Major defense and aerospace stocks-with the exception of Boeing-outperformed the broader market in 2022. The big three companies in the medical distribution industry-McKesson (+50%), Cardinal (+47%), and AmerisourceBergen (+24%)-also had a solid year.
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It’s worth noting that the company still has billions in cash, and its oral antiviral tab could become a big sales driver over the coming year. The company had such a strong couple of years that the decline in 2022 is not surprising. Pfizer (-12%) is the notable red spot in a green industry. Over the past decade, AbbVie is up over 600%, and Eli Lilly is up more than 800%. For the latter two companies, this is a continuation of a long-term trend. Merck led the way with +45% growth this year, with Novo Nordisk, AstraZeneca, AbbVie, and Eli Lilly (+32%) also posting double-digit growth. Large cap pharmaceutical companies managed to stay strong, even as the markets languished. The healthcare sector was a mixed bag this year, but some winners did emerge. This success didn’t go unnoticed as Exxon, and industry peers like Chevron, were excoriated for setting profit records while consumers felt the squeeze at the gas pump. The energy giant’s record Q3 profit came close to matching Apple’s (no small feat), and the company reportedly gave out hefty salary bumps and stock options to staff. In particular, ExxonMobil had a monster year. In fact, energy was the only sector to see positive performance, with most major energy stocks seeing double-digit growth. Looking at the visualization above, it’s easy to see which sector dominated this year. That said, there were winners to be found, even during this turbulent year. In this year’s stock market visualization, there’s a lot more red than green. To recap the past 12 months, we’ve created an augmented version of the classic FinViz treemap, showing the final numbers posted for major U.S.-listed companies, sorted by sector and industry.īelow, we look closer at the majority of companies that finished the year in the red, and the few industries and companies that beat the odds and saw positive growth. The Russian invasion of Ukraine and China’s COVID Zero ambitions threw markets and supply chains into further disarray. Globally, central banks raised interest rates for the first time in years in order to combat surging inflation. In the U.S., the Fed hiked interest rates seven times. The markets in 2022 were characterized by a lot more pain than gain. Stock Market: Best and Worst Performing Sectors in 2022
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