Big Four tech giants lost more than $1 trillion in market sell-off due to coronavirus epidemic
The coronavirus epidemic COVID-19 has wiped out over US$ 16 trillion from global stock markets in just 52 days. Not to be confused MAGA (Make America Great Again), “MAGA” stocks, or Microsoft, Apple, Amazon and Google-parent Alphabet saw their market values eroded due to the ongoing coronavirus epidemic. The four tech giants lost more than $1 trillion since the market rout began. So far, only Apple and Microsoft are the only two members left in the exclusive trillion-dollar tech club.
As part of the broader market sell-off, the four tech giants have lost $1.3 trillion of their values since their February all-time closing highs, with Microsoft hitting the hardest losing roughly $405.2 billion. Apple lost around $371.8 billion, while Alphabet has lost $311.1 billion. Amazon has shed $239.4 billion.
While MAGA stocks losses have been steep, all the four companies are still outperforming the S&P 500 over the last week as well as the last month.