South Africans who bought shares in the world’s top 10 biggest tech companies at the start of 2022 would’ve seen substantial declines in their investment this year.Many companies’ revenues have declined due to lower consumer spending amid considerable pricing pressures and less need for tech products used while working from home.
We found that, across the board, anyone who invested in these companies at the start of the year would have lost money. On 3 January 2022, the rand traded at about R15.88 to the dollar, while it closed at R17.17 by 14 December 2022.Those who invested in Meta Platforms and Tesla saw the worst drops in their investment value.
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