{"id":5862,"date":"2023-10-27T07:30:20","date_gmt":"2023-10-27T07:30:20","guid":{"rendered":"https:\/\/infundpros.com\/markets\/nine-stocks-in-the-nasdaq-100-have-dropped-15-or-more-during-october\/"},"modified":"2023-10-27T07:30:20","modified_gmt":"2023-10-27T07:30:20","slug":"nine-stocks-in-the-nasdaq-100-have-dropped-15-or-more-during-october","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5862","title":{"rendered":"Nine stocks in the Nasdaq-100 have dropped 15% or more during October"},"content":{"rendered":"
\n

The Nasdaq Composite Index is in the midst of a correction. A close look at its Nasdaq-100 subset shows 20 of those stocks fell 10% or more for one week through Wednesday\u2019s close.<\/p>\n

The Nasdaq Composite Index
\n COMP
\n fell into a correction on Wednesday, being down more than 10% from its last peak set in July. On Thursday, the index declined another 1.8%. It is still up 20.3% for 2023, following a 33.1% decline during 2022. From the end of 2021, the Nasdaq is still down 18%. (All price changes in this article exclude dividends.)<\/p>\n

\n

Read:<\/strong> The seven companies propping up the U.S. stock market are sending a bearish warning that investors should not ignore<\/p>\n

The Nasdaq-100 Index
\n NDX
\n is made up of the largest 100 nonfinancial companies in the full Nasdaq, weighted by market capitalization. It is tracked by the Invesco QQQ Trust ETF
\n QQQ.<\/span>
\n This index declined 1.9% on Thursday, led by Align Technology Inc.
\n ALGN,
\n -24.88%<\/bg-quote>,<\/span>
\n which provides devices and systems used by orthodontists and dentists. The company\u2019s shares dropped 25% on Thursday, after its quarterly sales and earnings came in well below analysts\u2019 expectations, amid a decline in demand for its services.<\/p>\n

A higher-than-expected third-quarter U.S. GDP growth pace of 4.9% may have helped feed the day\u2019s stock-market declines.<\/p>\n

The Nasdaq-100 Index has risen 29% this year, reflecting its heavy weighting to Apple Inc.
\n AAPL,
\n -2.46%<\/bg-quote>
\n and Microsoft Corp.
\n MSFT,
\n -3.75%<\/bg-quote>,<\/span>
\n which together make up about 21% of the index\u2019s weighting. <\/p>\n

Shares of Apple have risen 28% this year through Thursday, while Microsoft is up 37%.<\/p>\n

The Nasdaq-100\u2019s partial recovery this year follows a 33% decline in 2022; it is down 11.9% from the end of 2021.<\/p>\n

Here is a list of the nine stocks in the Nasdaq-100 that have fallen 15% or more this month, with additional price-change and valuation information:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Company<\/strong><\/p>\n<\/td>\n\n Price change since Sept. 29<\/strong><\/p>\n<\/td>\n\n Oct. 26 price change<\/strong><\/p>\n<\/td>\n\n 2023 price change<\/strong><\/p>\n<\/td>\n\n Price change since end of 2021<\/strong><\/p>\n<\/td>\n\n Forward P\/E<\/strong><\/p>\n<\/td>\n\n Forward P\/E at end of 2021<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n Align Technology Inc.
\n ALGN,
\n -24.88%<\/bg-quote>\n <\/td>\n		\n -37.6%<\/p>\n<\/td>\n\n -24.9%<\/p>\n<\/td>\n\n -10%<\/p>\n<\/td>\n\n -71%<\/p>\n<\/td>\n\n 20.7<\/p>\n<\/td>\n\n 48.7<\/p>\n<\/td>\n<\/tr>\n
\n Lucid Group Inc.
\n LCID,
\n -2.40%<\/bg-quote>\n <\/td>\n		\n -27.2%<\/p>\n<\/td>\n\n -2.4%<\/p>\n<\/td>\n\n -40%<\/p>\n<\/td>\n\n -89%<\/p>\n<\/td>\n\n N\/A<\/p>\n<\/td>\n\n N\/A<\/p>\n<\/td>\n<\/tr>\n
\n Moderna Inc.
\n MRNA,
\n -1.02%<\/bg-quote>\n <\/td>\n		\n -26.4%<\/p>\n<\/td>\n\n -1.0%<\/p>\n<\/td>\n\n -58%<\/p>\n<\/td>\n\n -70%<\/p>\n<\/td>\n\n N\/A<\/p>\n<\/td>\n\n 9.3<\/p>\n<\/td>\n<\/tr>\n
\n Enphase Energy Inc.
\n ENPH,
\n +1.94%<\/bg-quote>\n <\/td>\n		\n -20.0%<\/p>\n<\/td>\n\n 1.9%<\/p>\n<\/td>\n\n -64%<\/p>\n<\/td>\n\n -47%<\/p>\n<\/td>\n\n 16.3<\/p>\n<\/td>\n\n 60.1<\/p>\n<\/td>\n<\/tr>\n
\n Illumina Inc.
\n ILMN,
\n -2.02%<\/bg-quote>\n <\/td>\n		\n -18.7%<\/p>\n<\/td>\n\n -2.0%<\/p>\n<\/td>\n\n -45%<\/p>\n<\/td>\n\n -71%<\/p>\n<\/td>\n\n 57.5<\/p>\n<\/td>\n\n 90.2<\/p>\n<\/td>\n<\/tr>\n
\n Tesla Inc.
\n TSLA,
\n -3.14%<\/bg-quote>\n <\/td>\n		\n -17.8%<\/p>\n<\/td>\n\n -3.1%<\/p>\n<\/td>\n\n 67%<\/p>\n<\/td>\n\n -42%<\/p>\n<\/td>\n\n 54.0<\/p>\n<\/td>\n\n 120.3<\/p>\n<\/td>\n<\/tr>\n
\n Airbnb Inc. Class A
\n ABNB,
\n -2.56%<\/bg-quote>\n <\/td>\n		\n -15.8%<\/p>\n<\/td>\n\n -2.6%<\/p>\n<\/td>\n\n 35%<\/p>\n<\/td>\n\n -31%<\/p>\n<\/td>\n\n 27.0<\/p>\n<\/td>\n\n 166.7<\/p>\n<\/td>\n<\/tr>\n
\n Trade Desk Inc. Class A
\n TTD,
\n -7.60%<\/bg-quote>\n <\/td>\n		\n -15.3%<\/p>\n<\/td>\n\n -7.6%<\/p>\n<\/td>\n\n 48%<\/p>\n<\/td>\n\n -28%<\/p>\n<\/td>\n\n 46.9<\/p>\n<\/td>\n\n 100.3<\/p>\n<\/td>\n<\/tr>\n
\n Zoom Video Communications Inc. Class A
\n ZM,
\n -1.41%<\/bg-quote>\n <\/td>\n		\n -14.9%<\/p>\n<\/td>\n\n -1.4%<\/p>\n<\/td>\n\n -12%<\/p>\n<\/td>\n\n -68%<\/p>\n<\/td>\n\n 13.0<\/p>\n<\/td>\n\n 41.7<\/p>\n<\/td>\n<\/tr>\n
\n Source: FactSet<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Click on the tickers for more about each company, fund or index, including full news coverage.<\/p>\n

Click\u00a0here\u00a0for Tomi Kilgore\u2019s detailed guide to the wealth of information available for free on the MarketWatch quote page.<\/p>\n

The table includes current forward price-to-earnings ratios, based on consensus estimates for the next 12 months among analysts polled by FactSet. In comparison, the weighted forward P\/E for the Nasdaq-100 Index is 23.7, down from 30.4 at the end of 2021. For another comparison, the S&P 500
\n SPX
\n trades for 17.4 times its weighted forward earnings estimate, down from a P\/E of 21.6 at the end of 2021.<\/p>\n

Don\u2019t miss:<\/strong> Among the S&P 500, these 20 companies have made the best use of investors\u2019 money<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Nasdaq Composite Index is in the midst of a correction. A close look at its Nasdaq-100 subset shows 20 of those…<\/p>\n","protected":false},"author":1,"featured_media":2661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-5862","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nNine stocks in the Nasdaq-100 have dropped 15% or more during October | inFundPros<\/title>\n<meta name=\"description\" content=\"The Nasdaq Composite Index is in the midst of a correction. 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