Markets

Tech titans erase more than $1 trillion in market sell-off

Key Points
  • The so-called "MAGA" stocks, or Microsoft, Apple, Amazon and Google-parent Alphabet, have lost more than $1 trillion since the market rout began.
  • Only Apple and Microsoft still have a valuation above the $1 trillion mark.
  • Over the last month, Amazon is the relative outperformer, falling just 20.8%. Apple is down 25.4%, while Microsoft has shed 26.9%. Alphabet has performed the worst, dropping 29.3%. All four stocks are currently in bear market territory.
Tim Cook, CEO of Apple (L), Satya Nadella, CEO of Microsoft (C) and Sundar Pichai, CEO of Google.
Getty Images

The so-called "MAGA" stocks — or Microsoft, Apple, Amazon and Google-parent Alphabet — aren't looking so great.

Amid the broader market sell-off, the four tech titans have erased $1.3 trillion in value since their February all-time closing highs.

Microsoft has been the hardest hit, losing roughly $405.2 billion. Apple has erased around $371.8 billion, while Alphabet has lost $311.1 billion. Amazon has shed $239.4 billion.

With the recent losses, only Apple and Microsoft are now valued at more than $1 trillion.

The coronavirus outbreak, which has sent the Dow and S&P 500 tumbling into a bear market, has spared no area of the market. This includes the high-flying tech names, which previously led stocks to new highs.

Over the last month, Amazon is the relative outperformer, falling just 20.8%. Apple is down 25.4%, while Microsoft has shed 26.9%. Alphabet has lagged its peers, dropping 29.3%. All four stocks are currently in bear market territory.

Microsoft hit an all-time closing high on Feb. 10, and Apple on Feb. 12. Amazon and Alphabet's highs were Feb. 19.

On Saturday, Apple said it was closing all stores outside of China until March 27 to reduce the spread of the virus, after previously warning on Feb. 17 that it will likely not meet its quarterly revenue forecast due to lower iPhone supplies worldwide as well as softer demand in China. Shares of Apple slid 12.8% on Monday, and are down 25.4% over the last month.

While the losses have been steep, all four names are still outperforming the S&P 500 over the last week as well as the last month.

- CNBC's Robert Hum contributed reporting.

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