<i>Barron's</i> compiles a list of prominent tech stocks broken down by sector to get a feel for which stocks beat the 5 percent loss average and which exceeded it.
If you are long in individual stocks these days, you are likely part of a large and miserable fraternity.
But how bad are your stocks doing in relation to other stocks that you may not own or even follow? Since misery loves company, Eric Savitz of Barron's has complied a list of prominent stocks in six different tech sectors to get a feel for how big of a loser each stock was at Wednesday's close of trading. As Savitz points out while "assessing the carnage," the Dow Jones Industrial Average fell about 4 percent and the tech-heavy Nasdaq Composite was down nearly 5 percent, so if your stocks lost less than 5 percent, you're ahead of the game.
The results were mixed in each sector, but the semiconductor industry seemed to weather Wednesday's storm with the least damage. Texas Instruments was at the top of the list, losing only 2.2 percent of its stock price value, while Advanced Micro Devices was at the bottom with a loss of 6.8 percent.
The PC sector showed the only stock in the listing to advance as Dell's stock was up 1.3 percent, but that was after the PC maker's stock lost 11 percent in Tuesday's trading. Meanwhile, Apple was the big loser, giving back 8.6 percent.
In enterprise technology, SAP gave up only 3 percent, while VMware lost 12.7 percent to win the "biggest loser" title on the list.
Missing from Savitz's list was the actual biggest loser: telecom-equipment maker Nortel lost 49 percent of its value Wednesday. Microsoft was also absent from the list, losing 5.4 percent to close at a hair above its 52-week low.
Besides giving up a lot of paper profits for stockholders, this stock market slide is expected to have a deep effect on the tech sector. As my colleague Stefanie Olsen pointed out Tuesday, the deepening financial sector crisis is expected to have ripple effects that could stifle mergers and acquisitions in the technology industry and further dampen the market for initial public offerings.