Financial crisis slams Silicon Valley

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Financial crisis slams Silicon Valley

Finding a popular stock that actually gains value in the current financial crisis is like finding the famous needle in a haystack (actually, AMD slightly gained on Tuesday due to its Asset Smart announcement.) But a closer look at Silicon Valley companies reveals the dramatic impact of the turmoil and that there are some companies that are weathering the storm in a much more stable way than others. Especially the younger crowd and those that were in some sort of trouble before saw their stock value decline much faster than older and more mature corporations.

We picked a range of the most visible Silicon Valley companies (and some other important IT players) and compared their current share price against their 52-week highs. Here is the result in descending order:     

1. Nvidia: -81%
2. Sun Microsystems: -76%
3. AMD: -68%
4. Ebay: -59%
5. Yahoo: -57%
6. Apple: -56%
7. Dell: -56%
8. Google: -54%
9. Cisco: -45%
10. Intel: -42%
11. Adobe: -40%
12. Microsoft: -31%
13. Oracle: -28%
14. IBM: -26%
15. HP: -25%

The combined market capitalization of those 15 companies dropped by more than $570 billion over the past year. In absolute numbers, Google recorded the highest loss of market capitalization: The firm’s capitalization dropped about $126 billion from a high of more than $235 billion in November 2007 to currently about $109 billion.