SiliconBeat

Obviously, everyone’s stock price is caught up in the gloom surrounding Wall Street. But the news today that Google stumbled below $300 per share still made me sit up. That’s down from the $718.42 peak it reached just last December 10.

At the peak, Google had a market cap of $225.75 billion. As of about noon on the west coast, that stood at about $90.89 billion. That’s $135 billion of market value that just went up in smoke.

We’ll see if it recovers before the close.

The 44.6 percent drop in Google stock over the past year has wiped out $104 billion in valuation. How low will it go?

The last few months have been rough on tech stocks. And as such, SanDisk (ticker:SNDK) is hardly alone in watching its stock price get cut in half:

It was a particularly challenging year for the flash memory company, which instituted a temporary salary reduction from March 2007 to August for its executive officers, ranging from 15 percent to 20 percent. The cut was part of an overall cost reduction program to help the company remain competitive as the price of flash memory continues to dip.

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