The biggest tech stocks have lost $3 trillion in market cap over the last year
source link: https://www.cnbc.com/2022/10/27/the-biggest-tech-stocks-have-lost-3-trillion-in-market-cap-the-last-one-year.html
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The biggest tech stocks have lost $3 trillion in market cap over the last year
So here’s a good trivia question: Of the “FAANG” megacap tech stocks, which has lost the most market value over the past year?
Amid the earnings-related bloodbath so far this week, there have been huge losses. Alphabet, Microsoft and Meta have already posted their results, and tumbled in the wake of the reports. Thursday afternoon, Amazon and Apple are on tap.
A staggering $3 trillion in combined market cap has been lost in one year. Most of the losses have occurred across six of these stocks, but it’s hard to leave Apple off the list.
Remarkably, Apple shares have basically been flat – losing a measly $35 billion, by comparison.
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It’s also worth realizing that the total losses would have been much worse had Netflix shares not rebounded.
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Finally, even with the post-earnings sell-offs, these names are still trading higher than the 52-week lows set on Oct. 13, when the S&P 500 dove to $3,491.
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