Big Tech Lost $7.4B In Market Cap In 2022; Massive Layoffs

  • Big Tech has lost somewhere in the neighborhood of $7.4 billion in market capitalization in 2022, as none of the top 15 tech U.S. companies were able to generate a profit.
  • Microsoft alone lost around $700 billion in market cap this year. Recent reports show that the company will lose about $3 billion on its new cloud service, Microsoft Azure.
  • Elsewhere, Meta, Facebook’s parent company, saw its market cap shrink by more than $600 billion, while Amazon reportedly became the first company ever to lose more than $1 trillion in market value.