After the pandemic which boosted turnover, the big names in technology are going through a more difficult period where stock prices are heckled. The valuation of Amazon has thus lost the trifle of 1,000 billion dollars!
Large companies in the technology and digital sector have taken advantage of the health crisis to increase the number of customers who, confined to their homes to telework, had no other choice but to use their services. But the end of the pandemic is not easy as the situation is gradually returning to normal. And this can be seen not only in the results of these multinationals, but also in their share price!
Everyone unscrews on the stock market
Amazon, which was one of the first listed groups to join the club of valuations exceeding 1,000 billion dollars, is disillusioned today. On June 21, the market valuation of the online retailer was 1.882 billion dollars: last Thursday, it had fallen to 878 billion “only”. That is more than 1,000 billion less in a few months!
Microsoft is not far from displaying the same slide: the publisher of Windows and Office has sold more than 900 billion. This movement is not limited to Amazon and Microsoft. In fact, the top five US tech companies lost $4 trillion on Wall Street this year! To give an idea, this is more than the combined gross domestic product of Turkey, Argentina and Switzerland…
Apart from a few investors, there will surely not be many people who will complain about these behemoths: they will be able to recover. And then the exceptional valuations recorded during the pandemic also had something virtual. Nevertheless, these falls show a certain mistrust of these companies, which are no longer immune to the current crises.