Amazon.com Inc., the world's first public company, has faced a combination of rising inflation, tighter monetary policies, and disappointing earnings updates. The market lost trillions of dollars in value. This has led to historic sales in the stock this year. Shares of the e-commerce and cloud company fell 4.3% on Wednesday after its market value rose from a record high of $1.88 trillion to $879 billion by July 2021. Amazon and Microsoft Corp. Competing to overcome. . It's an unwelcome milestone as the Windows software maker lags after losing $889 billion from its November 2021 peak.
The world's largest online retailer has adjusted to a sharp slowdown in e-commerce growth this year as shoppers resume pre-pandemic habits. Its shares have fallen nearly 50% amid slowing sales, rising costs, and rising interest rates. Since the start of the year, co-founder Jeff Bezos' wealth has fallen from about $83 billion to $109 billion, according to data compiled by Bloomberg.
Last month, Amazon forecasted the slowest holiday quarter revenue growth in the company's history as shoppers cut spending amid economic uncertainty. It sent its market value below $1 trillion for the first time since a pandemic-fueled rally in tech stocks two years ago.
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