Plunge

Value

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/tech-stocks-plunge-in-value" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tech Stocks Plunge in Value</a><br></p>
<p style="text-align: justify">Nvidia and Microsoft, two key members of the “Magnificent Seven” group of high-performing tech stocks, have experienced a staggering market value loss of $2.6 trillion over a span of 20 days, according to a report by The Kobeissi Letter. This loss is three times greater than the entire <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">stock market</a> value of Brazil, underscoring the severity of the situation.</p>
<h2 id="what-are-the-magnificent-seven">What Are the Magnificent Seven?</h2>
<p style="text-align: justify">The Magnificent Seven, which have been outperforming the broader S&amp;P 500 since the market low in 2022, consist of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and <a href="https://newslinker.co/is-electric-car-the-future/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Tesla</a>. These tech giants are now under scrutiny as their upcoming earnings reports could significantly influence high-risk asset markets, including cryptocurrencies.</p>
<h2 id="why-are-earnings-reports-crucial">Why Are Earnings Reports Crucial?</h2>
<p style="text-align: justify">Microsoft’s stock saw a 3.8% drop on July 30, despite posting better-than-expected earnings. Currently valued at $3.1 trillion, Microsoft’s market cap has dropped by 15% in the last three weeks. Meanwhile, Apple, the largest company by market value at $3.35 trillion, has lost 9% or $312 billion in value since July 10. Their earnings report is expected on August 1.</p>
<p style="text-align: justify">Nvidia has also faced a significant setback, with its stock plunging 23% and resulting in an $800 billion market value loss since July 10. Despite this, its second-quarter earnings report isn’t due until August 28. Amazon, with a market value of $1.89 trillion, has declined 12% in the last three weeks and will release its earnings on August 1.</p>
<h2 id="earnings-insights-and-market-impact">Earnings Insights and Market Impact</h2>
<p style="text-align: justify">Meta, formerly known as Facebook, has seen an 18% drop, losing $257 billion in market value since July 10. Tesla also reported its lowest profit margins in five years, leading to a 19% loss in capital. The divergence between the declining tech stocks and the rising crypto market cap, which gained 11% over the same period, is noteworthy.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">– Monitor upcoming earnings reports from tech giants as they could set the tone for market trends.<br> – Significant drops in stock value across major tech firms indicate potential volatility.<br> – The tech sector’s performance may influence high-risk asset markets, including cryptocurrencies.</p>
<p style="text-align: justify">While the tech giants face significant market value losses, the divergence with the crypto market’s performance could indicate evolving investor sentiment and shifting market dynamics.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/tech-stocks-plunge-in-value" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tech Stocks Plunge in Value</a></h5>

Tech Stocks Plunge in Value

Съдържание

BH NEWS

Други статии, публикувани на 31.07.2024 г.

Shining a Light on the Best Crypto Coin Presales with 10% USDC alongside Worldcoin

Peter Schiff Hits Out At Michael Saylor, Slams Trend Of Having Bitcoin On Balance Sheets: 'Compan...

Solana Bulls Eye New Peak

BlockDAG Nears $62.5M, Surpasses XRP & Internet Computer (ICP) Hype After Teaming Up with UFC Cha...

Ensuring the Integrity of Taiwan’s 2024 Election: The Blockchain and Decentralized Archiving

Worldcoin Expands to Austria Amid Growing European Presence

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!