According to Forbes Apple is worth about $241.2 billion and the e-commerce and cloud computing giant on the other hand is a company worth around $1.75 trillion. Though both companies seems to be experiencing a level of blow after a few hours of trading and this does not look very good for the shareholders.
Amazon admits to its recent performance that included a top-and-bottom miss on revenues and profits. In the three months concluding September 30, 2021, Amazon reported $110.8 billion in revenues, up 15% compared to the year-ago period. Amazon also reported net income of $3.2 billion in the period, or $6.12 per share. There has been a dipped by some 49% on a year-over-year basis from the company’s net income.
A few hours ago, o thursday precisely shares of Amazon are off just over 5%. However, the company’s AWS unit did report accelerating revenue growth on a year-over-year basis, generating some light at the dark tunnel against their Q3 performance its Q4 notes may overshadow its trailing results. Not to mention, their record of about $1 billion per month in Q3, a reported net income north.
On the scenes of the tech giant Apple,, they experienced a blow from a fall of about 5% after its revenue missed expectations, bruised by supply constraints.
Apple Inc. and Amazon.com Inc.’s fear this may wipe out more than $200 billion in combined market valuation from the companies when markets open on Friday.
Apple ended the session with a market capitalization of about $2.52 trillion, and the postmarket drop represents a loss of about $126.1 billion in market value, based on outstanding shares at the close. Amazon closed with a value of about $1.75 trillion, and the post-earnings drop of 5% would erase more than $87 billion from its valuation.
Both stocks paired some of their initial decline, with Amazon at 3.7% while Apple trades at 3.6%.