Tech Takes A Hit

Even after the recent pullback in Tech, the average S&P 1500 Tech stock is up over 100% year-over-year.  If you've been paying attention, though, not all groups within Tech have done well.

As shown in the first chart below, the average semiconductor and hardware stock in Tech is up 150%+ y/y, but the average software stock is actually down 6%.

After the selloff over the past week or so, the average Tech stock is sitting 25% below 52-week highs.

As shown in the second chart below, the average software stock is down 36%, while the average semiconductor and hardware stock is still less than 20% off 52-week highs.

So which stocks that had been doing pretty well have gotten hit hardest this month?

We looked at the 100+ Tech stocks in the S&P 1500 and then filtered for ones that have made 52-week highs in the last two months.  Below are the 30 stocks from this group that are now the farthest below those recent 52-week highs.

Some of the hardest hit names are semis and hardware stocks like SolarEdge (SEDG), Max Linear (MXL), Ciena (CIEN), and Viasat (VSAT), which are all now 30% below 52-week highs.  Even after the sharp drops, these four stocks are still up 100%+ y/y, with CIEN and VSAT still up 500% y/y!