This has been a brutal year for Big Tech, as you can see in the chart below, with Meta Platforms
leading the way. Shares of the Facebook holding company plunged 26% on Oct. 27, bringing the 2022 decline to 71%. Many of the largest technology companies have fared worse than the S&P 500 during this year’s broad bear market.
Believe it or not, the broad market is still trading high by some historical valuation measures. So how can you know when such a large decline for a tech stock has gone too far? When is it time to buy, in other words? Mark Hulbert analyzes the herd behavior of Wall Street analysts as they cut estimates and ratings for Meta for insight on when the stock will turn the corner.The season for tech earnings and disappointments
The chart above shows 2022 stock performance, with dividends reinvested, for the FAANG group of stocks, including Facebook’s renamed holding company Meta Platforms, Apple
and Google holding company Alphabet