Big Tech stocks, including Google parent Alphabet Inc., fell sharply after the release of their quarterly earnings results. This was one of the most negative reactions to earnings reports this earnings season, according to Bespoke Investment Group.
The decline in shares highlights the challenges faced by big tech companies in maintaining their growth momentum amid increasing competition and regulatory scrutiny. The performance of these stocks has been closely watched by investors and analysts alike, who are trying to gauge the overall health of the technology sector.
Alphabet’s earnings report is no exception. The company reported a significant drop in its shares price, leaving investors wondering about the future prospects of this major player in the tech industry.
Source: https://www.marketwatch.com/story/big-tech-stocks-struggle-after-quarterly-earnings-as-alphabet-sees-steep-drop-3c6dc1ab