Business Standard

Wall Street: Tech earnings' jitters mount as pandemic darlings get crushed

More than $1.7 trillion in value has been erased from the Nasdaq 100 in January, with the tech-heavy gauge entering a correction this week after falling more than 10% from a recent peak

wall street
Premium

wall street

Bloomberg
The trouble in megacap tech is showing no signs of stopping, and earnings from some of the most-prominent names are adding to investors’ list of worries.

Marquee companies like Apple Inc. and Microsoft Corp., which are due to report their results next week, have come under additional pressure, with the Nasdaq 100 now on pace for its worst month since the 2008 financial crisis. A grim outlook from streaming giant Netflix Inc. was the latest excuse to sell the industry’s shares. Amazon.com Inc. and Facebook parent Meta Platforms Inc. were down over 20% from their records.

More than $1.7 trillion in value

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 22 2022 | 2:45 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com