Amazon and Alphabet set to lose more than $120 billion combined in market value

Amazon and Alphabet set to lose more than $120 billion combined in market value

5 years ago
Anonymous $oIHRkISgaL

https://www.cnbc.com/2018/10/26/amazon-and-alphabet-lose-120-billion-in-market-value.html

Amazon and Alphabet were set to erase a combined $121 billion in market capitalization Friday as investors punished the popular technology companies after both fell short of Wall Street's revenue expectations in the third quarter.

Jeff Bezos' mammoth e-commerce company plunged 9 percent in premarket trading on the week's final day of trading, set to lose roughly $78 billion. Google-parent Alphabet, down 5 percent before the bell, was poised to shed about $42 billion.