Elon Musk will attend the 2022 Met Gala celebrating “In America: Fashion Anthology” at the Metropolitan Museum of Art on May 2, 2022 in New York City. (Photo by Gotham / Getty Images)
Gotham | Getty Images
Investors downgraded the world’s largest tech company in the second quarter as central banks raised interest rates to prevent inflation.
The name of the big technology became less valuable in the first quarter, Russia’s invasion of Ukraine entered the business, increased the supply complexity that emerged in the pandemic, and lowered the broad S & P 500 index by about 5%. The situation worsened in the second quarter as the Federal Reserve took action in line with rate hikes. While S & P fell another 16%, the technology-intensive Nasdaq Composite fell 22%.
US stocks fell on Thursday to finish the second quarter and S & P 500 The weakest first half of the year since 1970..
Electric car maker Tesla With a nearly 38% decline in shares, it withstood the largest quarterly decline since its initial public offering in 2010.Quarterly CEO Elon Musk Get Social media company twitter For $ 44 billion.
Amazon Equities were the highest since the third quarter of 2001, down almost 35%. The company’s first-quarter earnings were lower than analysts expected in April. Revenue growth slows.. Amazon announced in early June that Dave Clark, CEO of the global consumer business of e-commerce companies, will step down. In September he Start as CEO Supply chain software startup flexport.
Stocks of Google affiliates, alphabetEnded the quarter with a drop of almost 22%, the worst result since the fourth quarter of 2008. Microsoft Equities fell by about 17%, the sharpest decline since the second quarter of 2010.
Facebook parents Meta platform — Its ticker symbol Change from FB to META This month, we are aligned with our new corporate identity, reflecting our focus on virtual worlds where people can trade and interact. Stock prices have fallen by more than 27%. This was better than the first quarter, when stocks were compressed by about 34%. In February, social network operators said Facebook’s daily number of active users (DAUs) declined quarterly for the first time.