Seven Companies
This year has been a challenging year for major industries, and technology companies have not been spared.
Over the past 12 months, more than $3 trillion has been wiped off the market value of the top seven U.S. tech companies. While all companies lost billions of dollars, Google (Alphabet) and Microsoft suffered the most, 20 times as much as Apple.
The combined market capitalization of Apple, Amazon, Alphabet, Meta, Microsoft, Netflix and Tesla has shrunk to $7.69 trillion today from $10.7 trillion last year, according to CNBC. A bit worse.
For now, Google parent Alphabet, Microsoft, Meta and Amazon have seen the biggest declines, ranging from $54 billion to $698 billion.
Of the seven companies listed above, Apple was the least affected last year, with a loss of just over $34 billion. While that’s still an unimaginable loss for the average person, it’s only 4.9% of the losses experienced by Alphabet and Microsoft.
To put this into perspective, Apple’s market cap has shrunk from $2.44 trillion to $2.40 trillion, but Microsoft has shrunk from $2.42 trillion to $1.73 trillion.
The largest percentage of market capitalization losses this year is Meta. Over the past year, the company’s market value has dropped nearly 70%, from $868 billion to $280 billion, its lowest level since 2016.
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