More than $400 billion in losses are anticipated for the big tech stocks this week.
While its big tech competitors recovered from a brutal selloff this week, Amazon.com Inc.’s (AMZN.O) shares dropped roughly 8% on Friday after expecting holiday-quarter revenues below Wall Street estimates.
The online retailer, whose market cap briefly went below $1 trillion, was down 8.4% at $101.66 as of Sunday night after reaching its lowest level since April 2020.
Apple Inc. (AAPL.O), the maker of the iPhone, posted revenue and profit that exceeded analysts’ expectations, shining brightly amidst a sea of Big Tech luminaries that were dimming.
