Bloomberg Quicktake: Now published this video item, entitled “Snap’s Record Rout Leads $150 Billion Social Media Stock Selloff” – below is their description.
Snap Inc. posted its biggest one-day drop on record after the Snapchat parent company warned that Apple Inc.’s data collection rules and global supply-chain bottlenecks are weighing on advertising spending.
The stock dropped as much as 25%, wiping out about $30 billion of a market value that now sits around $91 billion. The cautious outlook cast a shadow over ad-dependent peers, including Google-owner Alphabet Inc., Facebook Inc., Twitter Inc. and Pinterest Inc., which fell between 3% and 5% each.
Bloomberg Quicktake: Now YouTube Channel
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Apple Inc. is an American multinational technology company headquartered in Cupertino, California. It is considered one of the Big Tech technology companies, alongside Amazon, Google, Microsoft, and Facebook.
Well known products and services from the brand include the iPad tablet computer, AirPods wireless earbuds, iOS, iTunes, the Safari web browser, Apple Music, iCloud and Apple Pay.
Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976. Apple went public in 1980. In August 2018, Apple became the first publicly traded U.S. company to be valued at over $1 trillion and just two years later in August 2020 became the first $2 trillion U.S. company.
The company employs 137,000 full-time employees and maintains 510 retail stores in 25 countries as of 2020.