The ongoing geopolitical situation and rising inflationary pressure continue to impact the technology sector with 24 of the top 25 technology companies reporting a combined loss of $3,3-trillion in their market capitalisation in Q2 2022, finds GlobalData.
Meta, Apple, Amazon, Microsoft and Google stocks, along with Taiwan Semiconductor and Nvidia were the seven companies that lost over $100-billion in valuation each, with Apple losing the most with $636,7-billion. Microsoft’s valuation dropped by $390,5-billion in Q2 compared to Q1, although the company is expected to bounce back to its previous quarter levels due to its full year results this month.
Though Google has consistently maintained its $1.5-trillion valuation in the past few quarters, it lost around $400-billion valuation in Q2 2022 compared to the previous quarter. Soaring inflationary pressures and interest rate hikes continued to impact the company’s stocks. The possibility of an impending recession also hurt its shareholders’ sentiments.
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