💰 Amazon just fell out of the trillion-dollar market cap club for the 1st time since 2020 – leaving just 4 stocks with 13-figure valuations

TL;DR

Amazon was kicked out of the trillion-dollar market cap club Tuesday, as a continuing selloff in the stock dragged the tech giant's valuation to its lowest point since 2020.It missed its third-quarter revenue targets and projected further sales slowdowns during the key holiday period in the last three months of 2022.Its shares have fallen 12.3% since Thursday, meaning Amazon has seen $143 billion wiped off its market cap since it published the financial update.Apple is the world's largest stock by market capitalization, with a valuation of about $2.4 trillion.Saudi Arabian oil giant Aramco ($2.01 trillion) and Amazon's fellow Big Tech giants Microsoft ($1.70 trillion) and Alphabet ($1.17 trillion) are the other companies that are still worth over $1 trillion as of Tuesday's close."

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