Big Tech’s brutal week had a clear epicenter. Alphabet (GOOGLE) lost $468 billion in market value this week, more than SpaceX, Intel, and Nvidia combined.
It was the worst week in the history of Google’s parent company and the second-largest weekly wipeout for any U.S.-listed stock, according to calculations by Yahoo Finance. Only Nvidia (NVDA) lost more, around $552 billion during the week of January 27, 2025, when Chinese company DeepSeek shook AI investors. Alphabet’s previous worst was around $386 billion for the week ended June 26.
Most of the damage came on Thursday, when Alphabet lost $475 billion in a single session following its third-quarter results. Friday’s decline erased gains the stock made earlier in the week.
October was even worse. Alphabet lost about $758 billion in market value this month, the second-largest monthly loss ever for a U.S.-listed company. Only SpaceX (SPCX) lost more, around $822 billion in July. Alphabet’s October loss is almost double its previous worst month, about $420 billion in February 2025.
In percentage terms, the stock fell nearly 19% in October, its worst month since its IPO in 2004. Its previous worst month was an 18.5% decline in November 2008. For the week, it fell almost 13%, its worst since August 2011.
The selloff left Alphabet’s price-to-earnings ratio at its lowest level in more than a decade.
Alphabet was not alone
SpaceX, Intel (INTC) and Nvidia each lost more than $100 billion in market value this week. Intel fell as much as 30% on Friday after weak outlook, its biggest decline in decades. Amazon (AMZN) lost about $80 billion for the week after reporting results on Thursday. Some software names fell harder in percentage terms, with ServiceNow (NOW) and Fortinet (FTNT) down about 25% to 34%.
All that money hasn’t left the market. Eli Lilly (LLY), Tesla (TSLA) and SK Hynix (SKHY) added more than $300 billion in combined value, even as Magnificent 7 tripped.
UBS’s chief investment officer has spoken out against an exit decision. “Increased volatility does not make market withdrawal an effective way to protect portfolios against possible declines, in our view,” Ulrike Hoffmann-Burchardi, CIO Americas and global head of equities, wrote on Friday. “We continue to see opportunities for overall gains in stocks and believe investors should focus on building a resilient portfolio that includes exposure beyond technology.”
The fence solved the problem. October is considered Alphabet’s worst month since its IPO, in both dollars and percentage terms. The stock finished the week about $7 above the roughly $273 level it would have needed to break Nvidia’s weekly record.
Gn bussni
