Since their peaks last September, July and November, respectively, Meta (nee Facebook), Amazon and Goggle have lost a ton of market cap. In round numbers, nearly $1.6 trillion or 32%.
Loss of Market Cap From 2021 Peak:
- Goggle: -$412 billion/-21%;
- Amazon: -$655 billion/-36%;
- Meta: -$500 billion/-47%
For the three combined, $4.85 trillion of market cap has shrunk to just $3.29 trillion. And well it might have, given that combined LTM net income of $133 billion implied a PE multiple of 36.4X at last year’s peaks.