Technology Giants’ Value Plunged by $1 Trillion

Technology Giants’ Value Plunged by $1 Trillion

The market worth of the world’s top 5 largest technology companies the so-called FAANG has been reduced by $1 trillion. FAANC refers to Facebook, Amazon, Apple, Netflix and the mother company of Google Alphabet.  

During the last 52 years the value of the companies changed as follows: 

 • Facebook: -$253 billion

• Amazon: -$280 billion

• Apple: -$253 billion

• Netflix: -$67 billion

• Alphabet: -$164 billion

On Tuesday the price of the shares of all five companies dropped significantly. Apple’s shares prices saw the biggest drop with -4.8%.

As Forbes reports, the value of Facebook has dropped by 40% since July and the value of Amazon dropped by 26% since September.

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