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Alphabet’s October wipeout hits $758 billion, its worst month ever
Yahoo Finance • • business
Key Points:
- Alphabet (GOOGL) experienced a historic loss of $468 billion in market value this week, marking its worst week ever and the second-largest weekly market value drop for any US-listed stock, surpassed only by Nvidia's $552 billion loss in January 2025.
- Most of Alphabet's losses occurred on Thursday following its Q3 earnings report, with a total monthly loss of about $758 billion in October, the second-largest monthly decline ever for a US-listed company and nearly double its previous worst month.
- Other tech giants also faced significant declines, with SpaceX, Intel, and Nvidia each losing over $100 billion in market value, while Intel's stock dropped up to 30% on Friday due to a weak outlook.
- Despite the tech selloff, companies like Eli Lilly, Tesla, and SK Hynix gained over $300 billion combined, highlighting mixed market performance amid the volatility.
- UBS's chief investment office advised against exiting the market amid the turbulence, suggesting investors focus on building resilient portfolios with diversified exposure beyond the tech sector.
