That Peaking Sound To The South

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.

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