Amazon and Alphabet (Google owner) are the world’s only two publicy traded companies that have surpassed the $1 trillion threshold in market cap. This, however, is not the only thing they have in common. Both have lost a substantial portion of their value in after hours trading following the reveal of their most recent earning reports. Jeff Bezos, the man behind Amazon, has lost $10 billion in equity value over the course of only one day.
Amazon depreciated 7%, while Alphabet plunged even more, losing 10% of the market capitalization. The two companies combined have lost over $90 billion in market value as a result of worse than expected quarterly results.
Facebook, Alphabet and Netflix have lost approximately 14% of value since July. The S&P 500 depreciated 4.6 percent over the same period of time.
Source: Amazon and Alphabet lose more than $90 billion combined in market value
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