Daily Management Review

US tech giants lose $ 182 billion due to possible antitrust investigation


The total market capitalization of four US IT corporations — Alphabet, Amazon, Apple and Facebook — sank by $ 182 billion after it became known that an antitrust investigation could be launched in the US. Thus, at over-the-counter trades, Alphabet shares dropped in price by about 7% to $ 1,027, the lowest level in the last five months. The parent company of Google lost $ 57 billion overnight.

Amounts of losses of Facebook and Amazon were about the same. Papers of the world's largest social network slipped by 7.5%, and the company's market capitalization decreased, respectively, by $ 55 billion. Amazon shares fell only by 4.5%, but the online retailer lost $ 61 billion in absolute terms.

Apple suffered least of all. Its shares fell by only 1% at the end of the day. Before reports of a possible future investigation by US authorities appeared, iPhone manufacturer’s stock rose amid the presentation of new products at the annual conference for developers Worldwide Developers Conference. As a result, the company's market capitalization has decreased by only $ 9 billion.

source: bloomberg.com