In This Article:
The S&P 500's (^GSPC) top ten companies have faced a significant downturn this year, with a combined market cap loss of $2.5 trillion.
Yahoo Finance Markets and Data Editor and host of the Stocks in Translation podcast Jared Blikre joins Catalysts to discuss the market, highlighting trends and market performance from major players like Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Microsoft (MSFT), Berkshire Hathaway (BRK-B, BRK-A), and Eli Lilly (LLY).
Catch more Stocks in Translation here, with new episodes every Tuesday and Thursday.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Josh Lynch
Some of the biggest names on Wall Street have been wiped out to two and two and a half trillion dollars. That is a combined market cap of losses in some of these names, the top 10 in the S&P 500 only this year. So it's a huge reversal in fortunes from 2020 far and let me just show you how this breaks down here. Uh, heading the pack is Nvidia and you can see they have swung from a $2.07 trillion gain to a $678 billion loss for Tesla, $500 billion to the upside last year. Now, $510 billion to the downside this year. And it's only March. In Apple, very similar story, the list goes on to Microsoft and Alphabet, and it's not all bad though after we get through Amazon and Broadcom. We see Eli Lilly, uh, not shedding quite as much. It was able to add $180 billion last year, but it still lost a nominal $18 billion this year. But meta still holding on to gain some of those gains from its 20 day win streak, which was just incredible. That has actually added to gains. So holding on to 36 billion this year. And then you have Berkshire Hathaway. We don't talk a lot a lot about this mega cap stock, but it was up, uh, 201 billion last year and it's already added $94 billion this year. And you can really visualize this in a heat map, and I have these 10 uh, stocks right here. And let me just show you the two-day total because this will give you an appreciation for what we saw yesterday. Tesla still down 11.6%. It was down what, 14, 15% yesterday. Apple's still down 7%. Here is the month to date, and, uh, fun stat here. NASDAQ 100 having the worst start to March ever, and that goes back to beginning of data. Excuse me in 1985, 1986. And then here's the year to date. And what you'll see here is it's not quite as bad. We do have those gains that I was talking about in Meta, Eli Lilly, and also Birth Berkshire Hathaway. And now I thought we'd do some technical analysis because the charts on these various issues, those break down in various ways. Some of them are good, some of them are bad, and some of them are downright ugly. And we're going to start with Berkshire Hathaway here. I'll put a line chart on, so you can see this is a five-year chart, and this is beautiful. This is, you can see after the 22 bare market, we just took off and that's from the lower left to the upper right, and before that time, you had it's another trend channel, uh, intact over here, just a very steady series of higher highs and higher lows, which is a definition of a trend. That's what you want to see. And it's in nowhere near even in violation of violating that very, uh, nice trend channel that we're seeing. Here's Eli Lilly, another chart that's fairly strong in the technicals. You kind of had a head and shoulders in here, if you squinted, but it didn't fulfill. You dipped a little bit down, and then it popped right back above. And so now you just have this consolidation formation near the highs. We can also, uh, say some pretty positive things about Apple here, although I don't like that it just lost its 200 day moving average. Just shown, uh, but it really has some space here to kind of chop around, and this might be a head and shoulders top, but downside levels ought to contain that, uh, if we do have that, that drop into this prior price memory that we see in that formation. Broadcom also looking fairly good. This is a pretty steep trend channel here. It is in the process of violent to the downside. And this, uh, height and volatility here, you don't sometimes you see that in tops and individual stocks. So that is a little bit concerning, but it's kind of right down back to the decision point, the Rubicon for Broadcom. So remains to be seen if this is a topping formation. Meta, meta's looking pretty good, but it is in the process of violating a trend line here. Uh, meta is also prone to some very, very steep historical sell offs. 75%, uh, only recently in that 2022 bear. So just, uh, history kind of provides some caution for Meta. Alphabet, here's another trend channel break, but, um, here's what I'm looking at. These highs over from 2021, those theoretically should contain price here. It's got a little bit to go to see if, uh, it tests this formation. If it goes down though, we have a huge M top to deal with, but critically, we're not there just yet. Uh, moving down the line, Microsoft looking a little bit toppy. It just broke through its head and shoulders top. Um, do have some price potential price support down here. Uh, it has a little ways to go to find that. And then Amazon, Amazon, here's another that we can see these prior highs from the 20, the pre 2022, uh, bull market, it's kind of trying to find its footing up here, and we have seen some accelerated volatility, mostly to the downside, but also a few days to the upside there. Amazon when it makes its gains tends to be very fast and furious, so kind of like Meta, you got to watch to the downside, although we haven't had a big Amazon drop down like that similar to meta in some time. Nvidia, Nvidia's just incredibly volatile, and it's looking a little bit toppy right here. I don't have a specific formation, but you kind of want to see this level, uh, the lower 100s. You want to see that hold for Nvidia. And finally, Tesla, we're kind of getting into the ugly here. It's just been so volatile. This top, this, uh, breakout to new highs there, that was just a tease. That was a false breakout, and it's been, uh, on the way down just about as quick as it was on the way up. So you put it all together. Uh, we got a mixed bags in in terms of the Mac 10 and, uh, I think Berkshire Hathaway probably comes out on top here. 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