2011: The Year Of Gigantic Tech Stocks Getting Destroyed

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Photo: Associated Press

The overall market is off over 6% from its highs, but one sector in particular has been getting hammered: Big tech.All the tech giants of yester-year have seen their shares fall much harder than the overall market, and have even been among the worst in the market.

This has been despite the fact that many bulls insist that large cap blue chip stocks are insanely cheap, and are a must-buy at current levels.

A report from Morgan Stanley goes through some of the big name tech companies (companies with market caps of around $20B or more) and looks at how far each has fallen.

We’ve added in their forward PE ratios (which are of course subject to be totally wrong) to give a sense of how pessimistic investors have become on this sector.

Apple

Percentage decline since 2011 peak: 10.3%

Market cap: $302.1 billion

Forward PE: 11.35

Source: Morgan Stanley and Yahoo Finance

Intel

Percentage decline since 2011 peak: 10.5%

Market cap: $113.5 billion

Forward PE: 8.96

Source: Morgan Stanley and Yahoo Finance

cognisant

Percentage decline since 2011 peak: 11.9%

Market cap: $21.9 billion

Forward PE: 21.5

Source: Morgan Stanley and Yahoo Finance

Texas Instruments

Percentage decline since 2011 peak: 12.1%

Market cap: $36.9 billion

Forward PE: 11.55

Source: Morgan Stanley and Yahoo Finance

eBay

Percentage decline since 2011 peak: 13.6%

Market cap: $38.7 billion

Forward PE: 13.31

Source: Morgan Stanley and Yahoo Finance

Oracle

Percentage decline since 2011 peak: 14.3%

Market cap: $159.6 billion

PE: 13.20

Source: Morgan Stanley and Yahoo Finance

Microsoft

Percentage decline since 2011 peak: 17.9%

Market cap: $201.6 billion

PE: 8.63

Source: Morgan Stanley and Yahoo Finance

Yahoo

Percentage decline since 2011 peak: 18.5%

Market cap: $19.8 billion

PE: 16.7

Source: Morgan Stanley and Yahoo Finance

NetApp

Percentage decline since 2011 peak: 19.1%

Market cap: $17.8 billion

Forward PE: 17.1

Source: Morgan Stanley and Yahoo Finance

Google

Percentage decline since 2011 peak: 20.3%

Market cap: $162.90

Forward PE: 12.8

Source: Morgan Stanley and Yahoo Finance

Corning

Percentage decline since 2011 peak: 21.4%

Market cap: 28.5

Forward PE: 8.13

Source: Morgan Stanley and Yahoo Finance

Hewlett Packard

Percentage decline since 2011 peak: 28%

Market cap: $72.4 billion

Forward PE: 6.51

Source: Morgan Stanley and Yahoo Finance

Cisco

Percentage decline since 2011 peak: 31.4%

Market cap: $83.5 billion

Forward PE: 8.78

Source: Morgan Stanley and Yahoo Finance

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