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Wall Street is downgraded to triple A (Apple, Amazon and Alphabet): -200,000 million

Date: March 31, 2023 Time: 09:20:47

The euphoria on Wall Street is clouded. After the rally in the prices registered between Wednesday and Thursday, investors will face downward prices on a Friday. Not only because of the collection of benefits but because three technological titans such as Amazon, Apple and Alphabet (Google) have presented accounts below expectations.

The so-called technological triple A shows the effects of reduced demand for electronic products, electronic commerce, cloud computing and digital advertising, but also supply problems. In the after-hours market, where moves are posted outside of the regular session, Amazon shares plunged 5% to $145, while Alphabet fell 4.5% and Apple 4%. Among the three, the loss of capitalization on the stock market only exceeds 200,000 million dollars, of the almost 5 trillion dollars that these giants are worth on the stock market.

Problem in Apple iPhone 14

Apple’s results have been below expectations. The apple company has announced a net profit of 29,998 million dollars between October and December, its first fiscal, which is 13% less compared to the high season of the previous year, while its turnover falls year-on-year for the first time. time since 2019 with revenues of 117,154 million after the worst behavior of iPhone Christmas sales since 2016. Its shares fell close to 4% (-83,000 million on the stock market) after rising 3.7% in the regular session.

Trade and logistics suffer at Amazon

Investors respond with falls to Amazon’s annual accounts. The electronic commerce giant leaves more than 4% in the ‘after hours’ market, up to 106 dollars, after announcing losses of 2,700 million in 2022. The fall represents a loss of valuation of 57,000 million dollars and contrasts with the rebound of 7.3% that it has experienced in the session this Thursday.

YouTube, focus of concern for Alphabet

The annual results of Alphabet, the parent company of Android, YouTube and Google, confirm the slowdown in its digital advertising business that has led the company to cut 12,000 jobs across its entire global workforce. The company has announced a net profit of 59,972 million dollars in 2022, 21% less than a year earlier, despite the fact that its turnover has improved by almost 10%, to 282,836 million dollars. Its shares fell 4.5% in the pre-opening of Wall Street, after rising 7% in the regular session, which represents a loss of 64,000 million on the stock market.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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