Connect with us

Hi, what are you looking for?

Tech

Shares of tech giants lose 13% of their value in week

tech giants

London, (Business News Report)|| Shares of tech giants have lost 13% of their value in a week, as global markets recovered from the Coronavirus pandemic.

Tech giants had benefited greatly during the Coronavirus pandemic, and their shares have risen significantly.

The pace of financial performance pressure increased the decline in shares of technology giants pressure, for the fourth quarter of last year.

The shares of tech giants (Google, Apple, Amazon, Facebook, Microsoft and Netflix) fell more than $1.4 trillion at the end of trading last week, compared to the highest level recorded in a year.

The market values ​​of the shares of these companies combined amounted to about $9.43 trillion. This is a decrease of about 13%, despite their continued market gains compared to March 2020 prices.

The profits of these companies witnessed a discrepancy in their performance during the fourth quarter of last year. But it disappointed investors, especially for Netflix and Facebook.

Although Netflix announced a growth in profits for the last quarter, which amounted to $1.33 per share, the growth of its subscribers came less than expectations.

In addition, the company’s expectations for the growth of its subscribers for the next quarter by 2.5 million subscribers is much less than the 3.98 million subscribers recorded in the first quarter of 2021.

This was reflected in the performance of the stock, which topped the list in terms of declines. The stock lost about 41.4 percent from the highest level recorded in a year, or the equivalent of $128.7 billion of its market value.

In second place came the shares of Meta, the parent company of Facebook and Instagram. The company lost $399.5 billion from the highest market value recorded in a year, after the stock lost 38.2 percent of its value, to trade at the lowest level since July 2020.

The company recorded a decline in its net profit during the last quarter of last year, with the number of users of its platforms stagnating at the end of the year, in an unprecedented result for the giant social network.

The financial results showed that Meta achieved a net profit of $10.3 billion in the fourth quarter of 2021, a decrease of 8 percent over the corresponding period of the previous year.

Less severe decline

As for Amazon, Microsoft, Google, and Apple the decline in their shares was less severe, ranging between 16.2 percent and 5.8 percent.

The market value of Amazon fell 16.2 percent from the highest level in the year ($310 billion), despite reducing its market losses after the company announced the results of the fourth quarter of last year, which exceeded the expectations of investors.

The e-commerce giant achieved revenues of $137.4 billion as it was expected in the fourth quarter of last year. Its net profit reached $14.3 billion.

Amazon’s revenues during 2021 amounted to about $470 billion, a growth of 21 percent, and more than 33 billion in net profits, with a growth of 57 percent, supported by the acceleration of the transition to e-commerce.

Apple disclosed record sales during the fourth quarter of 2021, which is marked by the holiday season, achieving profits that exceeded expectations, while overcoming the global shortage of computer chips, bringing revenues close to $124 billion and a net profit of $34.6 billion.

Apple’s stock was the least declining among the technology giants, as the stock fell from its highest level in a year by 5.8 percent, which is equivalent to $172.2 billion of its market value of $ 2.8 trillion.

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..