Shares of technology companies collapsed: Apple lost $ 180 billion in one day

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Last updated on December 8th, 2022 at 02:26 pm

Shares of technology companies collapsed: Apple lost $ 180 billion in one day

American tech companies have long demonstrated steady gains in stock prices, which in the case of Apple and Tesla were further fueled by share splits. Although last Thursday can hardly be called “black”, the entire technology sector in the US stock market has undergone a significant correction.

Musk_02
Musk_02

In absolute terms, it was Apple that became the leader of the fall, since not so long ago it crossed the threshold of capitalization of $ 2 trillion. A decrease in the company’s share price by 8% reduced the capitalization by $ 180 billion at once – no issuer in history had ever faced such a fall. The entire Nasdaq 100 Index fell 5.2% yesterday, causing the largest drop in the stock price of its member companies since March this year. According to representatives of Tactical Alpha, the stock market for technology companies was overheated for a long time, the correction was only a matter of time.

The leaders of the fall included Microsoft (-6.19%), Amazon (-4.63%), Tesla (-9.02%), NVIDIA (-9.28%) and Zoom (-9.97%). AMD shares also fell noticeably in price, by 8.51%, Intel, which had been showing negative dynamics for a long time (-3.56%), also failed to hold its positions. In the face of a pandemic and self-isolation, investors saw in the securities of the technology sector an opportunity to earn money, according to representatives of Bank of America. Since March, the Nasdaq 100 has added $ 1.6 billion to capitalization every hour.

The bitcoin rate, too, could not stay at the level of more than $ 12,000, which it crossed over the past week, and dropped by 6% to its lowest level since July. The resumption of economic activity in industries blocked by the pandemic has revived investor interest in core stocks. For example, the securities of selected air carriers and companies that organize sea cruises rose by 3.7%.

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