Amazon's market value has fallen below $1 trillion

Amazon became the first public company to lose $1 trillion in market value. On Wednesday, the company's shares fell 4.3% to $86.14, bringing its market value now to $879 billion. For comparison, back in July 2021, it was almost $1.9 trillion.

Analysts note that such a decline is almost equivalent to the loss of the market value of Google's parent company Alphabet, which now stands at about $1.13 trillion.

In 2022, Amazon shares lost about 48% of their value. The company's market value fell below the $1 trillion mark on November 1, a few days after the publication of the third quarter report and the forecast of the slowest growth in the fourth quarter in history.

Experts note that not only Amazon has suffered losses: due to rising inflation and other macroeconomic shocks, 5 other leading American technology companies have lost almost $4 trillion of their market value this year. The reason for this, analysts call the impoverishment of people's budgets, still high inflation and rising energy costs.