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By Expansión (Spain)
Apple, Facebook, Amazon, Google and Netflix accumulate unprecedented declines since October led by the iPhone maker and by Amazon, which focus investors' doubts on the sector.
The change of cycle on Wall Street will begin where the longest historic era began: the technology sector.
The star companies of Silicon Valley, c Apitaneadas of Apple, Amazon, Facebook, Google and Netflix were the architects of an unprecedented growth of the American markets which accumulates increases almost uninterrupted since March 2009.
The strength of technology, its high growth rate, its Caja and its potential for diversification have made it the favorite of investors, occupying a prominent place among the most profitable companies and replacing traditional sectors such as the industrial or financial sector. [19659003] For many months, technology has covered the top five positions among the highest market capitalization entities in the US, but the trend is starting to change. Investors are wary of the leadership capacity of the industry, dragging their major companies and, with them, the entire market, given the enormous weight of technology for Wall Street.
When doubts were already unavoidable, Apple, Amazon, Alphabet, Facebook and Netflix accumulated a common equity impairment loss of USD 722 million (EUR 636 million). This figure is more than a trillion dollars compared to the peaks recorded between August and September.
Apple focuses most of the market's fears. Last September, the company closed the best year in its history, but was very cautious with the expected revenues for the current quarter, theoretically the highest sales thanks to the consumerist pull of the holiday season. At the time, many of its suppliers had downgraded the estimate of results before the drop in orders from its main contractor.
Alarms then surrounded the iPhone, whose saturation is starting to be a defining reality for the future of Apple, which still depends on 60% of its flagship phone, despite the market's growing efforts services.
As a result, the companies of badysis began to lower their target price, far from the thousands of billions of dollars sold late. d & # 39; August. Apple was worth $ 1.08 billion on October 1, but its capitalization was $ 840 billion at the end of Wednesday's session, before the semi-life bridge on Wall Street.
They volatilized $ 240,000 million worth of technology value, a figure similar to that of Inditex, Santander, Iberdrola, BBVA and Telefónica together.
Facebook is also in the Zero Zone of Technology Falls. The action of the social network was able to recover after the impact of the crisis of data breaches at Cambridge Analytica which was declared in March, after losing the historic figure of 124,000 million. dollars in one day. However, the presentation of the third quarter results gave the kickoff to an unsuccessful action that seems to have found no motive.
Facebook has lost $ 80 billion of its value since October, for a capitalization lower than the 390,000 million US dollars that moved it to eighth place in the ranking of the most valuable companies compared to the fifth position he had occupied in recent months. L The Johnson & Johnson and the Chinese online services company Alibaba's badessments were compared to those of Facebook on Friday.
Amazon, protagonist of one of the most vertical impulses in Wall Street history, has also collapsed heavily. The e-commerce firm seemed poised to follow Apple as the second-largest billion-dollar company, but quarterly growth below expectations put an end to its aspirations.
The company has multiplied by ten its profit. In the third quarter, Net achieved a net turnover of 56%, but did not meet the expectations of badysts, which, according to the market, was a waste of the powerful technology sector.
Since October, Amazon has lost 240 billion US dollars. among the most profitable companies from second to third.
Alphabet also saw a wave of investors falling below third-quarter income estimates. Google's parent company reported a 36% increase in sales between June and September, but market experts expected even more, highlighting investors' demanding criteria over the technology sector .
] The Internet search engine is currently valued at just over 720 billion US dollars, or 13% less than in early October
. Netflix has also lost its leading position in the market. The audiovisual society that has revolutionized television consumption patterns around the world has exceeded the expectations of the last quarter with a high rate of growth in the number of users. However, investors are dismayed by the high debt of technology, which is largely responsible for the collapse of the sector.
Since October, Netflix has lost 31%, more than 52,000 million US dollars. Nevertheless, he manages to stay in positive territory since January.
Apple and Amazon have not erased the accumulated increases over the course of the year, although the trend calls into question the fact that they can stay out of the red by the end of 2018. Google and Facebook have already lost everything they've won.
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