Bill Gates founded Microsoft and might as well have taken this unwanted crown as the company stock has also lost $889 billion in valuation from its peak of $2.49 trillion in November of last year and is now worth $1.67 trillion as of Wednesday. company to register this feat, it is not the only company facing the heat of the incoming recession. While Amazon might be remembered as the first publicly traded U.S. While this might not sound bad for other companies, Amazon has been a relentless growth machine, and a sub-eight percent growth is problematic for investors, Gizmodo reported.Īmazon stock has dipped 50 percent in the past six months, and the company's valuation, which was $1.8 trillion in June 2021, is now reduced to $879 billion as of Wednesday. Jeff Bezos and Blue Origin revolutionizing the space industry, and following the milestone launch of the New Shepard, experts go inside. Amazon's third-quarter earnings disappointed investors last month, but what has dented investor confidence further is the company's prediction of less than eight percent year-on-year growth for the last quarter of 2022. Federal Reserve looking to tame soaring inflation, interest rates have been hiked, and sales have slowed down even more. As the pandemic receded, the surge slowed down, and revenues dipped. The COVID-19 pandemic sent a lot of users toward e-commerce, and online retailers like Amazon saw a massive boom in traffic and revenues.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |