Tech companies Amazon, Meta, Alphabet and Microsoft have lost hundreds of millions of dollars in market value this week.
(Photo: IMAGO/Xinhua)
san francisco During the corona pandemic, the tech giants from the USA were considered the big winners of the crisis. This week, however, powerful corporations such as Amazon, Google’s parent company Alphabet and the Facebook group Meta have been punished.
For example, Amazon temporarily lost more than 20 percent of its market value in after-hours trading on Thursday and then only recovered a little. If the losses at the start of the stock market on Friday are realized, it would be the worst crisis in the markets for the company since 2006.
Amazon was just the latest target in a stock market quake that has gripped tech giants. “This week will go down in history as one of the worst for big tech,” said Dan Ives, analyst at Wedbush. “While Alphabet and Microsoft showed weakness with lower forecasts that spooked the stock market, Meta’s results were like a traffic accident.”
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