The largest tech stocks have now lost a collective $3 trillion in stock market capitalization over the last year (October 27, 2021 through the opening of trading today) as we await third quarter earnings reports from AMZN and AAPL this afternoon.
GOOG is down $698 billion to $1.244 billion.
MSFT is down $692 billion to $1.734 billion.
FB is down $588 billion to $280 billion.
AMZN is down $540 billion to $1.180 billion.
NFLX is down $160 billion to $133 billion.
TSLA is down $326 billion to $715.29 billion.
Only AAPL is flat over the last year (down only $34 million).
In total, the market caps of these companies declined from $10.735 trillion to $7.694 trillion over the last 12 months. The two questions I want to ask is what these mega-market caps mean and whether they will decline further.
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