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Amazon Lost $1 Trillion In Value Due To Corona

Amazon

The Corona high flight is currently followed by a huge hangover in the tech industry. The retail group Amazon , which is now likely to go down as the biggest loser in the history of the stock exchanges, has been hit particularly hard.

Amazon was among the first companies to join the prestigious $1 trillion market club. But some have done this before. Now, however, Amazon has set a record that makes the group really unique, but one that will hardly be happy:

For the first time in economic history, a listed company has lost over a trillion dollars in value. And that within a few months: On June 21, the then still rising prices reached their peak and Amazon’s market capitalization totaled 1.882 trillion dollars. After trading on Wall Street ended yesterday, the combined value of all Amazon shares was now down to just $878 billion.

Microsoft is The second To Lose Most

Microsoft’s crash was only slightly less drastic. The Redmond group had even managed to overtake Apple in terms of market value for a short time. In the meantime, however, the market capitalization has fallen by around 900 billion dollars to 1.67 trillion dollars. Industry leader Apple, on the other hand, only had to accept small discounts and is currently at 2.15 trillion dollars and thus by far in first place among the large tech companies.

Recently it also worked for Google/Alphabet and Facebook/Meta downward. The five most valuable US tech companies have lost a combined $4 trillion in value this year. This corresponds to almost the entire gross domestic product of Germany. This massive crash is mainly due to the fact that the role of tech companies was massively upgraded in the Corona crisis. With the gradual normalization of the situation, the situation is organized differently again.

Ron Harold

It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news writer, it feels good to be part of the team. Besides that, I am building a finance-based blog, working as a freelance content writer/blogger, and a video editor.

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