The U.S. stock market suffered a heavy hit, with Apple and other technology giants losing more than $600 billion in market value in August

News from this site shows that the U.S. stock market performed poorly in August, with some of the world’s largest technology companies losing hundreds of billions of dollars in market value

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According to Insider’s calculations, so far this month, the market value of Apple, Microsoft, Tesla and Meta has shrunk by a total of US$625 billion (Note from this site: currently about 4.56 trillion yuan) ). Among them,

Apple's market value fell by US$314 billion, the largest decline, followed by Tesla's US$117 billion, Microsoft's US$114 billion and Meta's US$80 billion.

This year’s overall strength in the stock market is in sharp contrast, with technology stocks, driven by the artificial intelligence craze, performing particularly well. Despite falling nearly 5% in August, the S&P 500 is still up 14% year to date

This month, Apple shares are down 10%, Microsoft is down 4.6%, Tesla and Meta They fell nearly 13% respectively

The stock price decline may be largely due to seasonal factors, historical data shows that August is the second worst month for stock market performance in more than 30 years . In addition, rising interest rates and soaring bond yields have also weighed on stocks, eroding the relative attractiveness of the asset class. High borrowing costs tend to erode a company's profitability and make its stock less attractive, while increasing bond yields provide investors with lower-risk, higher-return options. Bond yields have been climbing over the past few quarters as the Federal Reserve sharply raises interest rates in an effort to curb inflation.

In recent months, the performance of technology stocks has been affected by other factors. For its part, Apple's lackluster earnings report showed a decline in iPhone and iPad sales as U.S. consumer spending slowed. For Tesla, investors are increasingly worried about a series of price cuts the automaker has rolled out this year that could hurt its profit margins. Although Microsoft, Tesla, Apple and Meta's market capitalization has taken a hit this month, but one tech company has notably bucked the trend - Nvidia. The semiconductor company, known for its GPU chips, has performed well this year. Its second-quarter financial report showed that its revenue increased by 101% year-on-year. Advertising statement: This article contains external jump links (including but not limited to Super links, QR codes, passwords, etc.), aiming to provide more information and save screening time. The results are for reference only. Please note that all articles on this site contain this statement

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