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US-listed technology stocks continued their downturn Tuesday in pre-trade exchanges. Each of the two so-called FAANG names slipped into bearish territory after restoring nearly $ 1 trillion from their recent highs, as declining consumer demand persisted. Trade negotiations with China and rising interest rates.
Apple Inc. (AAPL) and Nvidia Corp. (NVDA) probably better reflect two of these concerns and have therefore seen leading markets fall over the past week as investors questioned the growing demand for Apple's new line of iPhones, previously launched year, and what the CEO of Nvidia has called a "hangover" of additional chips thanks to the decline in demand for cryptocurrency miners that shook the semiconductor industry
"Concerns over the trade war with China are weighing on the global supply chain of large technology companies, as fears of global growth are of great concern to future profits," said Chris Zaccarelli, chief investment officer. at the Independent Advisor Alliance. "Finally, the concern that the Fed will continue to raise interest rates will result in a contraction of price / earnings (P / E) ratios as investors' calculations of the current value of companies drop. , future cash flows being discounted by higher interest rates. "
"It's hard to know what will end up stopping this decline, but I would expect it to be a resolution – or a decrease – of some fears that are currently lowering the market, "he added.
Apple's shares fell by 2.6% at the opening bell and changed hands at $ 181.00 each, a decision that would pull down from the peak of October 22 and exceed 22%. Nvidia shares fell by 1% to 143.00 each, bringing their decline to 50%.
Facebook Inc. (FB), which has fallen more than 40% since the end of July due to concerns over data privacy, corporate governance and profitability, has dropped 1.5% $ 130.79 each. Alphabet (GOOGL) further declined 1.3% to $ 1,014.00. This decision takes Google's parent to over 20% of its July 25th summit, while Amazon (AMZN) posted a 3% drop to $ 1,465.00, extending its 3 month drop to 27%. 5%.
Facebook, Apple, Amazon, Alphabet and Netflix, the top five FANG names, had lost $ 945 billion in market value before the opening of today, each hitting its highest level in the world. weeks between July and October, the fall of Amazon being above the list of lost brands. value.
The FANGMAN complex has lost 19% of its market capitalization since its August peak, almost in a bear. pic.twitter.com/T7xv4QK7A9
– Holger Zschaepitz (@Schuldensuehner) November 19, 2018
The S & P 500 industry benchmark, the industry benchmark, has fallen 13.5% since September, but remains modest in positive territory for the year, while the Philadelphia Semiconductor index, which follows the leading chip manufacturers, is down nearly 6.4% YoY. -date and has dropped 16.4% since September 1 st.
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