However, it might be better to look at this differently than this because this is NOT money lost, it is a loss in value of stocks which can also go up or down from here. So, there is no real loss in wealth or money, unless someone was in the middle of selling some of these stocks. Then it might be possible that they got less money this week than they would have another week before Trump was inaugurated. Also, the value could go up beyond before when Trump was inaugurated also at any point.
So, to be realistic the Companies did not gain or lose any real money at all only in the actual value of their stock. It's like if you own a car and it went down in value for some reason. It might go up in value if several people are bidding on it too for some reason the next day.
begin quote from:
The 5 Biggest Tech Companies Lost $32 Billion In Value Over Donald Trump's Muslim Ban
| Fortune | - |
Investors
suspected Silicon Valley wouldn't have it easy under President Donald
Trump's protectionist trade and immigration policies.
The 5 Biggest Tech Companies Lost $32 Billion In Value Over Donald Trump’s Muslim Ban
Updated: 8:47 PM PST | Originally published: 7:59 PM PST
Investors
suspected Silicon Valley wouldn't have it easy under President Donald
Trump's protectionist trade and immigration policies.
Trump deepened those fears Friday when he signed an executive order barring citizens of several Muslim-majority countries from entering the U.S.
The move sent the market cap of the five biggest tech companies on the
S&P 500 down by $32 billion Monday, as investors worried Trump's
anti-immigration policies may cut into the workforces of tech companies.
Shares of Apple, Alphabet, Microsoft, Amazon, and Facebook (fb, -0.95%) together fell roughly 1% for a total market cap of $2.4 trillion on Monday. Alphabet alone shed $13.8 billion in market cap.
Tech
companies quickly condemned Trump's executive order over the weekend.
Google CEO Sundar Pichai called the order "painful" in a company memo
that noted over 100 of his employees were affected by the order. Facebook CEO Mark Zuckerberg wrote on his social media site that, "we should also keep our doors open to refugees and those who need help." Microsoft on the other hand called the order "misguided."
But tech companies might have to brace for further headwinds from the White House: On Monday, Bloomberg
obtained a draft of an executive order from the Trump administration
that could discourage U.S.-based companies from hiring foreign workers
by directly targeting the work-visa programs tech giants frequently use.
An
exchange-traded fund tracking the technology sector, the Technology
Select Sector SPDR fund fell nearly 1% in trading Monday. That was
roughly in line with the broader stock market, with the S&P 500
falling 0.9%.
Shares of Apple have fallen 0.67%; Alphabet 2.6%; Amazon 1%; Facebook 1.4%; and Microsoft 1.3%.
Correction, Jan. 30, 2017: The original headline of this story misstated the loss incurred by the companies. They lost billions in value, not revenue.
No comments:
Post a Comment