The "magnificent seven" tech giants have seen a staggering $280 billion erased from their collective market value after a series of earnings reports were released on October 25, sparking concerns about a potential downturn in the tech sector.
The "magnificent seven" refers to the major blue-chip tech companies, namely Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla, which together constitute a quarter of the S&P 500 index’s total value.
Alphabet, the parent company of Google, experienced a dramatic 9% drop in its stock price, erasing $180 billion from its market capitalization. This marked Google's worst performance since the onset of the COVID-19 pandemic in March 2020.
Looking at the share price movements of Alphabet Inc Class A over the last five days from Google Finance data:
The stocks of Amazon, N
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First found on: Amazon, Nvidia, Meta: Analyzing the Downturn in Tech Stocks
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