Apple and Amazon’s market caps decreased by more than $830 billion in 2022. Apple and Amazon Lost $800 Billion in Market CapThis is the same as the market value of eight Intels, ten PayPals, eighteen Snowflakes, or forty-nine Rivas.
To fully grasp the significance of a particular statistic, sometimes, a little perspective is required. That applies to the enormous losses that Apple and Amazon recorded last year.
The two stocks saw the most significant market cap declines in 2022. Amazon lost $834.06 billion in value and Apple lost $846.34 billion. Market capitalization calculates the total worth of all a company’s shares.
The entire value lost by the two businesses eclipses that of other household IT stocks combined. In a tweet, Bespoke Investment Group referred to the figures as “staggering.”
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Amazon’s stock fell as the company’s earnings sputtered, and its fourth-quarter projection was depressing. Its performance was consistent with that of the broader tech industry, which increasing interest rates, sluggish internet advertising, and others have negatively impacted.
Despite being one of the few major tech companies to avoid a decline in revenues, Apple nonetheless had trouble as concerns about the acceptance of its new devices circulated. It had issues shipping the iPhone 14 during the holiday season owing to Covid-19 constraints at its primary production in China.
Along with other companies in the industry, the market leader in personal technology has paused recruiting as worries about a future recession have grown.
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A prospective recession might weaken demand as people put off buying expensive things to save money. Tuesday’s trading saw Apple shares drop 3.7%, reaching a 52-week low as its market cap dipped below $2 trillion for the first time since May.
However, the size of these two corporations in the stock market can be overlooked in the data. Amazon was more than twice as giant as its peer Meta Platforms, which had a year-end market worth of $315.56 billion. Apple had an estimated value of $2.067 trillion on December 30.
The combined market value of the two equities lost more than twice as much in a single year as they gained.
The value of just the $830 billion loss is equal to
- the market cap of 10 PayPal
- 8 Intels,
- 18 Snowflakes or
- 49 Rivians
Final Lines
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