It’s been a tough year on many levels and major tech hasn’t been immune. Over the past twelve months, more than $3 trillion in value has been lost by the top seven US technology companies. While all lost billions, Google’s Alphabet and Microsoft suffered the most damage with 20 times the losses suffered by Apple.
According to CNBC, Apple, Amazon, Alphabet, Meta, Microsoft, Netflix and Tesla have seen their combined market capitalizations drop from $10.7 trillion to $7.69 trillion over the past year.
But that hasn’t even been the case at all seven companies when it comes to losses. Alphabet, Microsoft, Meta and Amazon, Google’s parent company, saw the biggest drops, ranging from $540 billion to $698 billion.
Apple was the least affected over the past year with a loss of just over $34 billion. While that’s still a significant loss, in context, it’s 20 times smaller than what Alphabet and Microsoft experienced.
To put that into perspective, Apple’s market capitalization only decreased from $2.44 trillion to $2.40 trillion. But Microsoft went from $2.42 trillion to $1.73 trillion.
The biggest percentage loss in market capitalization was Meta. It has suffered a decline of almost 70% in the past year, with its market capitalization falling from $868 billion to $280 billion – the lowest level since 2016.
The point of view of Netcost-security.fr
A loss of $34 billion for Apple is obviously contrary to its objective. But if we look at the big picture of the macroeconomic environment, its market capitalization and the performance of its competitors, Apple’s performance 20 times better than Alphabet and Microsoft in the same period is very impressive.
It shows how resilient Apple’s business is and that even in tough economic times, customers view the company’s products and services as necessary purchases.
One thing to keep in mind, Apple didn’t share its latest quarterly results like the other big tech giants that lost another significant chunk of value just yesterday. But so far, Apple is expected to have performed well in the previous quarter.
Stay tuned to Netcost-security.fr for live coverage of Apple’s fiscal fourth quarter earnings call and report.
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