Major US Technology Companies Lost $3 Trillion in Market Value over the Past Year

Major US technology companies (Alphabet, Microsoft, Meta, Amazon, Tesla, Netflix and Apple) collectively lost more than $3 trillion in market capitalisation over the year. However, Apple stood out by posting decent results.

This week, Alphabet, Microsoft, Meta, Amazon and Apple all released financial results for the previous quarter, causing the value of their securities to plummet insome cases quite significantly.

Alphabet and Microsoft each lost around $700bn in value. As for Meta, it is no longer one of the 20 most expensive US companies after its shares fell 23% on Thursday. The company has lost 70% of its value this year and 74% since the stock peaked in September 2021.