This article examines the significant market cap losses of the “Magnificent Seven” tech stocks ahead of a busy earnings week.
Points
- The “Magnificent Seven” tech stocks have lost $2.6 trillion in market cap.
- Microsoft, Meta, Apple, and Amazon are set to report earnings soon.
- Nvidia has seen a 23% stock slump since July 10.
- The earnings reports could influence higher-risk asset markets, including crypto.
- Tesla has
also experienced significant losses ahead of its earnings report.
Market Cap Losses of the Magnificent Seven
The “Magnificent Seven” tech stocks—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—have collectively shed $2.6 trillion in market cap over the past 20 days. This comes ahead of a high-profile earnings week that could set the tone for higher-risk asset markets, including cryptocurrencies.
Microsoft’s Earnings Report
Microsoft reported its fourth-quarter earnings for the fiscal year ending June 30, but despite better-than-expected results, its stock fell 3.8% to close at $422.92. The software giant, with a market capitalization of $3.1 trillion, has seen a 15% decline over the past three weeks.
Upcoming Earnings Reports
Meta’s latest quarterly results are set to be published on July 31, while Apple and Amazon will report on August 1. These earnings reports are highly anticipated and could significantly impact market sentiment and investor behavior in the coming months.
Nvidia’s Stock Slump
Nvidia, expected to report its Q2 results on August 28, has already seen a 23% stock slump, resulting in an $800 billion loss in market cap since July 10. This decline underscores the volatility faced by tech stocks ahead of earnings announcements.
Performance of Alphabet, Amazon, and Tesla
Google’s parent company, Alphabet, with a market cap of $2.1 trillion, has lost 12% since July 10. Amazon, the fifth largest by market cap, has declined by 12% over the past three weeks. Tesla, with a market cap of $711 billion, has experienced a 19% drop in capitalization since July 10.
解説
- The “Magnificent Seven” tech stocks have experienced significant market cap losses ahead of their earnings reports.
- Microsoft’s stock fell despite positive earnings, indicating investor caution.
- Upcoming earnings from Meta, Apple, and Amazon are expected to influence market sentiment.
- Nvidia’s significant stock slump highlights the volatility faced by tech stocks.
- The performance of these tech giants will likely impact higher-risk asset markets, including cryptocurrencies.