Amazon has lost a record $1 trillion in value
In just over a year, Amazon has lost more than half its market value. Microsoft is also in trouble
Published: November 15, 2022, 7:46 am
Amazon has become the first publicly traded company in the world to lose $1 trillion in valuation. Even more impressive is that this fall was achieved in an extremely short period of time: less than 18 months.
Amazon is now valued at $879 billion, a far cry from the $1 880 billion it was worth in July 2021. The company had benefited greatly from the health crisis in 2020 and 2021, but is currently experiencing a much more troubled period.
Amazon is experiencing a sharp slowdown in e-commerce growth as consumers return to their pre-pandemic habits. In addition, inflation is depressing demand, while the costs of storing, packing and transporting products are rising, hence the new price of the Amazon Prime subscription. Rising interest rates also do not bode well for a strong recovery in economic activity in the short term.
All of these factors have led to investor distrust, and to Amazon’s plummeting stock price over the past few months. According to Bloomberg, Jeff Bezos has lost at least $83 billion since the beginning of 2022.
Microsoft is also in the red
Amazon is already expecting to have a difficult last quarter of the year, which is normally a time of record-breaking numbers with the holiday season. And the company is far from being the only one to suffer from the current situation.
The top five US technology companies by revenue saw $4 trillion in value evaporate in 2022.
In addition to Amazon, Microsoft has also suffered a huge loss. The Windows company lost $889 billion from its all-time high in November 2021. The fear of a coming recession will certainly compound its problems.
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