The first half of the year took a heavy toll on information technology stocks, with the tech-heavy Nasdaq down almost 30% as of the end of June.

The drop in equities led to an equally steep fall in market capitalizations. Only 103 infotech companies in the U.S. and Canada still had a market cap of more than $10 billion as of July 1, down from 131 on Jan. 1, according to S&P Global Market Intelligence data.

The aggregate market cap for these large information technology companies fell to $10.40 trillion as of July 1, down from $15.46 trillion on Jan. 1.

While the figures are down from the start of the year, they remained higher than two years ago. As of July 1, 2020, only 92 info tech companies had a market cap above $10 billion, with those companies tallying an aggregate value of $8.60 trillion.

Breaking down the numbers, internet software and services had the most companies with more than $10 billion in market cap as of July 1, 2022, at 29. That was down from 37 a year earlier.

Application software had the second highest with 16 large-cap companies, followed by semiconductors, with 14.

The aggregate value of large-cap internet software and services companies remained the highest within the larger infotech sector at $2.54 trillion as of July 1. That marked a steep decline from a year ago, when the aggregate value of internet software and services large-caps was $4.19 trillion.

Among the internet software and services companies recording the largest drops in market cap during the one-year period were Alphabet Inc. and Meta Platforms Inc. Google's parent company saw its market cap drop to $1.43 trillion as of July 1, down from $1.67 trillion a year earlier. Facebook's parent company lost more than half its value in the past year, ending July 1 with a market cap of $447.54 billion.

Apple Inc. was the only infotech company with a market cap of more than $2 trillion on July 1. Microsoft Corp. ranked second with $1.94 trillion.

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