Amazon loses $250 billion in tech stock mauling

Jeff Bezos, Amazon
CEO.
Alex Wong/Getty
Images

• Amazon has lost $250 billion
  in market value since it became a trillion dollar company in
  September.
• It took Amazon 18 years to reach a valuation of $250
  billion after first going public in 1997, Fortune pointed
  out.
• Amazon’s quarterly results missed analysts’
  expectations and ignited worries that the tech company is
  facing stronger competition.
• You can follow Amazon’s stock
  price live here. 

If the giant scale of America’s first trillion-dollar companies
Apple and Amazon can make movements in their stock price seem a
little abstract, then Fortune provided some timely
context on Monday.

The publication pointed out just how marked Amazon’s share price
decline has been in recent weeks, with a little bit of history
about the online retailer, which first went public in 1997.

After hitting the heady heights of a $1.02 trillion valuation on
September 4, when it closed at $2,039.51 a share, Amazon has
since taken a heavy hit. The company’s share price was down to
$1,538.88 on Monday, tearing around $250 billion off its value in
an eight-week period.

Using a market capital calculator
from Macrotrends, you can see Amazon first hit a market cap
of $253 billion on July 24, 2015 — 18 years after it first went
public. You can see the trend below:

Macrotrends

Amazon’s quarterly results on Thursday missed analysts’
expectations and ignited worries that the tech company is facing
stronger competition. Amazon’s stock has fallen 14% since then —
its worst two-day decline since 2014, Reuters said. It relinquished
its spot as the second-largest US company by stock market
valuation to Microsoft.

Some $200 billion has been wiped off the value of FAANG companies
— Facebook, Apple, Amazon, Netflix, and Google — since Thursday,
as a stream of Q3 earnings trickle in.