|Bid||0.0000 x 3000|
|Ask||0.0000 x 900|
|Day's range||4.0300 - 4.3200|
|52-week range||3.5600 - 17.7000|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||10 Nov 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||12.07|
The tech-heavy Nasdaq Composite index is officially in a bear market after dropping 26% year to date, but some investors are on the hunt for bargains that could spike in value once more optimism returns to the markets. Looking specifically at the 100 largest non-financial companies listed -- otherwise known as the Nasdaq 100 -- Facebook parent Meta Platforms (NASDAQ: META) and Netflix (NASDAQ: NFLX) rank toward the bottom of the list in year-to-date performance. Revenue growth is decelerating at Meta due to weakening trends in the advertising market, while investors are wondering if Netflix can resume growing subscribers in a more competitive streaming market.
The worse-than-expected May inflation reading was a tipping point for investors hoping inflation would reverse its trend and begin ticking down. The rude awakening came as the Consumer Price Index increased by 8.6% for the 12 months ending May 31, which the U.S. Bureau of Labor Statistics quoted as the largest 12-month increase in over 40 years. There's no doubt that selling and walking away to stop the bleeding can be an emotional release.
The stock market is having a tough 2022, and the tech sector is no exception. As of June 23, 2022, the Nasdaq Composite (NASDAQINDEX: ^IXIC) is down close to 30% YTD. Top tech giants like Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Amazon (NASDAQ: AMZN) have all seen losses well into the double-digit percentages this year, and the sell-off isn't showing any signs of slowing down anytime soon.