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Apple, Google, Facebook, it all came to mind: when it became a bad idea to invest in technology


If you’ve ever wondered what a trillion dollars or $ 1 trillion looks like, it’s worth noting that American technology giants, companies like Apple, Google, Facebook or Amazon, have lost so much money in just a few days.

Three trading sessions have been enough in the last week for the entire tech industry to seem to be digging its own hole financially. The losses were fabulous and were felt for the entire Wall Street stock market. In the case of tech companies, there were even greater decreases in the valuation of shares because their net worth was higher than that of other players.

The disaster started last week

Last Wednesday, more than a week ago, the US central bank, the Federal Reserve (EDF), intervened in the market to potentiate the effects of unprecedented inflation in America. Then, in a similar way to our NBR, it raised the reference interest rate. The effects were the fastest to be seen in the technology sector.

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Apparently, investors have forgotten that the tech industry kept the market afloat during the pandemic, and is now targeting food producers, commodities. The list includes Campbell Soup, General Mills or JM Smucker.

If you want to associate an exact amount with the disaster, consider that Apple has lost 220 billion dollars since the conclusion of the transactions on Wednesday and until now, from the evaluation of all the shares traded on the stock exchange. As a reference, that is the day when Fed Chairman Jerome Powell said that inflation is too high in the United States, and plans “at the moment” are for a key interest rate increase of more than half a percentage point.

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In the first phase, the markets grew a bit after that announcement, but it didn’t take long for them to suddenly go down. The first blow in the market was seen on Thursday, but the disaster continued on Friday, Monday and so on. The US S&P 500 index fell below 4,000 points on Monday, after falling 7% since Wednesday’s close, while the Nasdaq fell nearly 10% over the same period. Beyond the index, Microsoft lost $ 189 billion in capitalization, while Tesla’s decline was $ 199 billion. Last but not least, Amazon fell by 173 billion, while Alphabet, the company behind Google, devalued by 123 billion. Meta Platforms, Facebook’s parent company, reported losses of $ 70 billion, while Nvidia lost $ 85 billion.

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