November 30, 2022

ModularPhonesForum

Complete News World

3,600 billion Norwegian kroner explosion - E24

3,600 billion Norwegian kroner explosion – E24

Amazon, Alphabet, Microsoft, and Meta published numbers that greatly disappointed the market, and faced heavy penalties.

Amazon shares fell after the stock market opened on Friday, after it provided disappointing numbers.
Posted: Posted:

The four tech giants provided numbers that could show future growth will be worse than expected.

Amazon, Alphabet, Microsoft, and Meta are all priced way too high compared to today’s earnings. It is a sign that the market expects them to grow and become more profitable.

When companies provided numbers that could indicate it wasn’t going to happen anytime soon, the market’s judgment was harsh.

The E24 account shows that in one week, stock market values ​​of more than 3,600 billion NOK disappeared from these four companies.

  • This week, Amazon lost more than 1,600 billion Norwegian kroner in market capitalization
  • Alphabet, which owns Google, has lost more than 630 billion NOK in market capitalization
  • Microsoft lost NOK 460 billion in market capitalization
  • Facebook owner Meta lost over NOK 850 billion in market capitalization in the past week.

Among the biggest tech companies, it’s almost Apple that manages to make it through the week without a scratch. Apple shares rose significantly after the company delivered somewhat better numbers than expected.

70 percent down

Among them, the four giants hold more than 44,000 billion NOK in terms of market capitalization.

But they leave behind a difficult year.

All four stocks have fallen more than the Nasdaq this year, down more than 29 percent.

The worst of the class is Meta, the owner of Facebook, which is down more than 70 percent since the start of the year.

Norwegian money is loaded

Many of the largest Norwegian funds also hold large positions in these companies.

All Norwegian funds that track indices in which stocks are included will have lost in these positions. This applies, for example, to the world famous index funds

Oljefondet is also a major investor in these companies.

At the beginning of the year, the Oil Fund invested more than 558 billion NOK in these four stocks.

It is not known what positions the fund took this week, as the numbers were only announced at the end of the year.