Amazon with stock market negative record: Over $ 1 trillion loss of value

On June 21, 2022, Amazon had a stock market value of $1.882 trillion. In times of the global coronavirus pandemic and the war in Ukraine, more and more consumers ordered goods online. On November 9th, however, this soaring ended on Wall Street. As the first company in the world to Amazon’s Stock Market Drops Over $1 Trillion have to accept. All Amazon shares together are worth just $878 billion.

Is the Amazon, Google & Co. boom over?

Since the outbreak of the Ukraine war on February 24, 2022, the prices for food, energy and many other areas have only known the upward direction. In October, people had to pay more than 10 percent more in many places, and electricity costs rose by more than 80 percent in some places. With such high inflation, the costs for Amazon & Co. also increase and at the same time the desire to buy decreases. After hiring 800,000 new employees in the last two years, the world’s largest mail order company is now feeling the effects of inflation. Most recently, the new Amazon CEO Andy Jassy had to explain a drop in sales of three billion US dollars. According to the Wall Street Journal, the successor to company founder Jeff Bezos should pay more attention to profitability and is also scrutinizing the device division with Alexa devices. Next to Amazon Echo & Co., the company mainly earns money with mail order and the cloud department AWS. Time will tell if more customers start buying again on Black Friday, which may happen on November 18th.

Not only the world’s largest online mail order company has to deal with declines in key figures such as sales and profits. On November 9th, 2022, Microsoft shares lost around 900 billion dollars and reached a market capitalization of only 1.67 trillion dollars. The meta group recently announced that 11,000 employees of Facebook & Co. will lose their jobs. Google parent company Alphabet is also struggling with falling numbers. All affected tech companies agree that they hired massive amounts of new staff during the first two years of the Covid 19 pandemic and assumed that the trend would continue. The chip manufacturer Intel also recently reported weak numbers, since fewer laptops were sold and the Arc graphics cards are also not yet a source of sales. Intel’s competitor AMD is doing better, but expectations could not be met in the third quarter of 2022.

Also worth reading: Meta: Facebook group announces 11,000 job cuts

Amazon depreciation record collection:

• Amazon was the first company in the world to lose more than $1 trillion on the stock exchange. All Amazon shares together are worth just $878 billion.
• Recently, high inflation has weighed on consumers’ willingness to buy. Most recently, the new Amazon CEO Andy Jassy had to explain a drop in sales of three billion US dollars.
• Allegedly, various company divisions are now being examined for profitability, including the device department that develops the Amazon Echo and other Alexa devices.

Sources: Bloomberg, WSJ