Billions of dollars have been lost as stock value of companies like Apple, Amazon and Microsoft are hit by the continued drop in Tech Stock.
This my not seem important to most, as people don’t actively participate in the Stock Market. But if you have a 401(K) or IRA, which is most North American citizens, then its likely you have investments in one or two popular companies.
This is important news as Tech companies (Facebook, Apple, Google and Microsoft) are positioned as top most popular mutual stock fund investment. Tech companies have gained increasing importance in relation to the US economy, which in turn makes it difficult to not want to invest in them.
Tech Stock has usually been viewed as a durable, long-term investment which will see continued growth in the long run, so people are quick to bet on companies like Facebook and Amazon and new markets they are opening. But because of this very reason, research into unknown an untested technologies ins VR, OS, storage, phones or game consoles can cause people to doubt a company and their directions.
This is worth considering as the start of drop can be linked to a selloff in Apple stock, closely after their WWDC and may be related to their new lineup of computers and laptops as well as OS.