“Magnificent Seven set to shed $1 trillion in value, led by Apple, Nvidia”
August 8, 2024
“High-performing shares of Alphabet, Amazon, Meta Platforms, Microsoft and Tesla fell as much as 12.2% in premarket trading. The losses in the Magnificent Seven stocks were set to wipe out nearly $1 trillion from the combined market value of the companies…
Over the weekend, Warren Buffett’s Berkshire Hathaway said it had halved its stake in Apple – the conglomerate’s top holding – in a stock-selling spree that raised worries about the outlook for the tech industry…”