Sometimes, a little perspective is needed in order to produce a certain statistical magnitude. That is small with gigantic losses tallied by Apple and Amazon last year.
Both stocks are the biggest losers in market capitalization in 2022. Apple lost $846.34 billion and Amazon lost $834.06 billion. Market capitalization measures the combined value of all of a company’s shares.
The value of each of these two companies dwarfs the total size of other home technology stocks. Bespoke Investment Group called the number “laugh” in a tweet.
Amazon shares fell as the company’s earnings declined and its guidance for the fourth quarter was disappointing. The performance is in line with the broader tech sector, which has been hurt by rising interest rates, slow internet advertising and other factors.
Despite being one of the few big tech names to avoid a fall in revenue, Apple is still struggling amid questions about the popularity of its new products and facing shipping problems for the iPhone 14 during the holiday season due to Covid-19 restrictions in key China. factory.
The personal technology titan has also slowed down the pace of hiring along with others in the sector due to growing concerns over the potential recession, which can dilute demand as consumers delay buying big-ticket items to save money. Apple shares dropped 3.7% in Tuesday’s trade – hitting a 52-week low as its market cap fell below $2 trillion for the first time since May.
But what may be missing in the data is how the two companies fare in the stock market. Compared to peers Meta platform‘ With a year-end market capitalization of $315.56 billion, Amazon is more than twice its size at $856.94 billion. As of December 30, Apple is several times its size at $2.067 trillion.
In fact, what each of the two stocks has shed in a year is more than twice the size of Meta’s full market cap.
That’s a loss of $830 billion