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Apple

Meta

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/tech-giants-experience-significant-market-value-losses/" data-wpel-link="internal">Tech Giants Experience Significant Market Value Losses</a> 
Nvidia and Microsoft, part of a high-performing tech stock group called the Magnificent Seven, lost a total of $2.6 trillion in market value over 20 days leading up to a high-profile earnings week. The economic news site The Kobeissi Letter revealed in a post on X on July 31 that the Magnificent Seven lost three times the value of Brazil’s entire <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">stock market</a> in 20 days. 
<h2 class="p1" style="text-align: justify" id="magnificent-seven-highlighted-by-losses">Magnificent Seven Highlighted by Losses!</h2> 
The group, which has outperformed the rest of the S&amp;P 500 since the market low in 2022, includes Google parent company Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and <a href="https://newslinker.co/is-electric-car-the-future/" target="_blank" rel="noopener" data-wpel-link="exclude">Tesla</a>. Microsoft has already reported its fourth-quarter earnings for the fiscal year ending June 30, 2024. Meta’s latest quarterly results will be released on July 31, while Apple and Amazon will report on August 1. 
The quarterly results of this market-leading group of tech giants could also set the tone for high-risk asset markets, including crypto, in the coming months. Nvidia’s second-quarter earnings report is not expected until August 28, but the semiconductor giant has already seen a 23% drop in its stock, leading to an $800 billion market value loss since July 10. 
Microsoft stock (MSFT) fell 3.8% on July 30, closing at $422.92, despite delivering a better-than-expected earnings report. The software giant, with a market value of $3.1 trillion, is the world’s second-largest company but has dropped 15% in the last three weeks. 
Apple, the world’s largest company with a market value of $3.35 trillion, will release its earnings report on August 1. However, Apple’s market value has lost 9% or $312 billion since July 10. The company’s shares (AAPL) remained unchanged during the day, closing at $218.80, but have fallen 7% from their all-time high earlier this month. 
<img fetchpriority="high" decoding="async" class="aligncenter wp-image-375547 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/kobeissi.jpg" alt="" width="1262" height="606"> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
E-commerce giant Amazon, with a market value of $1.89 trillion, is the fifth-largest company. However, it has dropped 12% in the last three weeks. The stock price (AMZN) fell 1.5% during the day, settling at $180.90 in after-hours trading. Amazon is also expected to release its second-quarter earnings report on August 1. 
The company formerly known as Facebook has a market value of $1.17 trillion, making it the sixth member of the Magnificent Seven. However, Meta has lost $257 billion or 18% of its market value since July 10. The company is expected to release its second-quarter earnings report on July 31. Meta stock (META) fell 2.5% during the day, closing at $463.19 on July 30. 
Elon Musk’s Tesla, with a market value of $711 billion, is the last member of the Magnificent Seven. However, it has experienced a 19% loss in capital since July 10. Tesla reported its lowest quarterly profit margin in five years on July 23, and earnings per share missed estimates for the fourth consecutive quarter. The company’s stock (TSLA) fell 9.4% on July 30, dropping to $222.62. In contrast, the total <a href="https://en.coin-turk.com/bitget-introduces-new-security-and-key-management-feature-what-is-the-mpc-wallet/" data-wpel-link="internal">crypto market</a> cap gained 11% over the same three-week period, indicating an early divergence. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/tech-giants-experience-significant-market-value-losses/" data-wpel-link="internal">Tech Giants Experience Significant Market Value Losses</a></h5>
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Tech Giants Experience Significant Market Value Losses

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