Few sessions for tech stocks losing over a trillion dollars in value in just the last three days josh lipton is sorting through the carnage and has more josh thats right, jon bigtech names suffering big losses take another look here at apple, minhaj, amazon, alphabet, facebook and tesla just to put the plunge into perspective. The last three days essentially wiping out three weeks of gains. At the start of this year, these Six Companies were worth about 5 trillion. Their value then peaked at 8 trillion just last week. Now they lost about 1 trillion sounds like a lot, but also keep in mind, the remarkable runs these stocks have had. For example, apple is trading about 15 off its alltime high. Still up, though, about 60 so far this year. Same goes with amazon. Down about 6 so far this month, but the stock is still up more than 70 so far in 2020. Also, check out the smh, the etf that tracks the chips bouncing here this morning. Trading about 10 off its most recent high. Sector surge on th
Yesterday down 86 points at 4 00 oclock on wall street. More help for Small Businesses and hospitals on the way. The senate did pass the 484 billiondollar coronavirus aid deal last night. House is expected to vote on this tomorrow. Meanwhile the white house is looking ahead to additional stimulus packages. We will talk about that. President trump to sign executive order today temporarily banning immigration to protect american jobs. The cdc meanwhile is out with a dire warning this morning saying there could be a second wave of coronavirus and might be even worse than what we are dealing with right now. That coming in the fall. More people stuck at home turn to streaming. Adding 16 million subscribers but warned that the level of growth probably will not continue as lockdown across the globe start easing up. The stock is down 188. More earnings on top this morning including at t and Delta Airlines, all that coming up. Mornings with maria live right now. Maria Global Markets look like t
You told me things were very frothy a lots happened since then. The wework had just come out. We know what happened with the wework blowup theres been this sense that you saw with the wag news. Theres been these companies have raised an extraordinary amount of money and pitching themselves as Tech Companies that really went Tech Companies. Wework was not a Technology Company. Swag not really a Technology Company, and the combination of trying to get the technology valuations on companies that shouldnt be trading that way and companies that are just raising too much money and have no financial discipline. Hopefully some of that is coming to an end but i still think valuations are going to be crazy for a while. I think, if anything, this signals the beginning of the end of these shoot the moon sort of Business Plans what i mean by that is we just they dont work for two reasons. One, companies are raising a tremendous amount of money and they do that primarily to try and have some sort of
Morning. It is a condensed trading day. All the major averages are slightly lower, but we begin our busy day on amazon deidre bosa is in San Francisco with more on why this Holiday Season is primetime for the etailor and were seeing how amazon stacks up to other retarls ilers many up their own games. And i promised that i would get to your items and so now is a good time for your kids to turn off the tv morgan is in the market for a smart tv and the price is pretty of the same because retailers need to honor the manufacture ear suggested retail price so we looked at shipping how fast can you get it . It was pretty close here again, but amazon will get it to you by sunday the catch is that you have to have that 119 prime membership. Best buy increased its logistics spending by more than 90 last year so it will actually get you the tv just one day later on monday with no additional cost. Walmart by tuesday david, idsimilar idea with that camera on your list. We chose a good entry level o
Chicago. Phil. Melissa, the reason the stock is shooting higher is because the adjusted eps is 1. 86 profit for the third quarter. And that is far above what most people were expecting. The expect aches, the consensus out on the street was for a loss of 42 cents a share. Revenue came in a little under expectations at 6. 30 billion the expect aches for 6. 33 billion in revenue and looking at the gross margins, 18. 7 is what most of the analyst were zeroing in on in terms of what the expectation was for the third quarter. Remember, many people believed as they were increasing model 3 deliveries, especially at the higher price point, that we might see higher gross margin process. Well the gap auto gross margin coming in at 22. 3 a couple much production notes, first of all, trial production has begun at shanghai plant preponderate remember ramping up production and deliveries in china into the end of the year the model y according to tesla ahead of schedule in the production beginning in