Microsoft and other tech companies hit hard in stock plunge

If you have been paying attention to the stock market in the last couple of weeks you know that it hasn't been the best of times. So far stocks as a whole have dipped down a whopping 15 percent in that time period. That includes Monday when the Dow Jones industrial average plummeted 5.6 percent. The S&P 500 was even lower on Monday at 6.7 percent. Finally the Nasdaq Composite, which has a number of tech companies, dropped the most on Monday at 6.9 percent.

AllThingsDigital.com reports that all major tech companies have taken at least some kind of stock hit, although some are weathering this correction better than others. Apple, once the high flying stock to own, saw its stock price go down 5.5 percent today and has gone down 11 percent in the past five days. Microsoft's stock got hit with a 4.7 percent stock price loss on Monday and has lost a total of 10.2 percent in the last five day. Google's stock price went down 5.7 percent today and has gone down 10 percent in the last five days.

Other tech-based companies have not fared as well on the stock market. For example, eBay's stock price went down 8 percent on Monday and has gone down 18.4 percent in the last five days. The largest stock loss from a tech based company is for the LinkedIn social networking service which launched its IPO earlier this year. Its stock price went down a whopping 17.4 percent just on Monday. In the last five days its stock price has gone down an astonishing 27.5 percent.

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19 Comments

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As the saying goes, "The time to buy is when there's blood in the streets." A lot of people will make a fortune off of this; trouble is those people are already rich. I'd buy into some tech companies myself but like someone said above I'd have no clue what I was doing and probably lose it all.

Good time to buy stock then. With all the money these companies have, they will rebound and weather this economic crisis.

Isn't it funny that Microsoft is listed in the title, but out of the 10 companies that are listed in that report, only Google hasn't lost as much.

You'd never see "Apple stock plunges more than other tech companies"...hell no!

Billy Gun said,
Time to buy some stocks.. I just need money.

In this economy I'd say a lot of people are in the same boat... LOL

Scutley said,
Microsoft will not lose it's triple A rating

Yeah, they actually seem fiscally responsible... Unlike another entity that recently lost it's AAA rating...

stock price pluging is only bad for speculators. no biggie...

unless somehow apple or microsoft goes bankrupt or something...

mocax said,
stock price pluging is only bad for speculators. no biggie...

unless somehow apple or microsoft goes bankrupt or something...

Um... I'd say you're grossly underestimating the impact drops like this can have on people and the economy as a whole...

mocax said,
stock price pluging is only bad for speculators. no biggie...

unless somehow apple or microsoft goes bankrupt or something...

Also bad for anyone that want to take out their money without a loss anytime soon.

mocax said,
stock price pluging is only bad for speculators. no biggie...

How is it bad for them? Speculators can profit from both appreciation and depreciation of an asset. Look up short selling.

mocax said,
stock price pluging is only bad for speculators. no biggie...

How is it bad for them? Speculators can profit from both appreciation and depreciation of an asset. Look up short selling.

And the finger pointing continues -- I heard rumors that the Easter Bunny and Santa Claus are all in on this somehow. I think I heard quite a few butts puckering today in the market LOL.