Tech giants Facebook Amazon, Apple, Netflix and Google (FAANG) have seen their collective values lose over $1 trillion since market highs earlier this year.
In August, Apple was worth $1 trillion on its own, while Amazon hit the landmark in September.
Here’s how the combined market capitalisation losses break down between each brand:
- Facebook: $253 billion
- Amazon: $280 billion
- Apple: $253 billion
- Netflix: $67 billion
- Alphabet (Google): $164 billion
Martyn Whistler, lead analyst, media and entertainment, at EY told PCR sister publication TVBEurope that it's important to remember that while the FAANG companies tend to be grouped together, in reality they have very different businesses.
"The markets in which they operate, how they make money, how they measure success and the pressures on them are all quite distinct," says Whistler.
"Some of the share price activity reflects wider investor sentiment but it doesn’t look structural. When you look at each company in isolation, the reasons why they are where there are, it’s all very different.
“Those that can tell a compelling growth story and demonstrate their ability to execute will bounce back strongly."
Read more analysis on this story over at TVBEurope.
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