Alphabet shares record their worst day ever, shedding $500 billion in value
- On Thursday, Alphabet shares plummeted approximately 13%, erasing roughly $500 billion in market value after the company reported disappointing third-quarter earnings that marked its worst one-day stock drop in history.
- Alphabet reported negative free cash flow of $9.1 billion, driven by capital expenditures exceeding $51 billion as the company aggressively funds artificial intelligence infrastructure; management signaled spending will increase significantly in 2027.
- While total revenue of $127.6 billion missed the $128.2 billion estimate, Google Cloud revenue surged 103% to more than $30 billion, offering a bright spot amid broader earnings disappointment.
- The sell-off dragged major US indexes lower, with the Nasdaq falling 1.4% as investors reassessed AI spending risks, while construction giant Caterpillar plunged 9.2% reflecting broader industrial concerns.
- Alphabet has committed to more than $1 trillion in multiyear spending agreements, yet analysts warn the stock may face pressure until search revenue growth accelerates amid intense artificial intelligence competition.
252 Articles
252 Articles
SHARES of Alphabet, the parent company of Google, yesterday recorded the biggest one-day drop in the company's history. Their value fell almost 13 percent, wiping about $500 billion from Alphabet's market value.
Google Parent Alphabet's Shares Crash 13%, Wiping Out $500 Billion In Market Value Amid AI Spending Concerns
Google's parent company- Alphabet, saw a sudden fall in its stock price on Thursday, October 29, owing to its quarterly earning results that have put investors on alert due to the growing spending on artificial intelligence (AI) and the gains from
Google's huge investments in artificial intelligence really spooked investors.
Idaho State Journal
The News-GazetteGlobal trading is mixed as worries about AI-related issues grow
Global trading is mixed as worries about the future of artificial intelligence grow after Alphabet’s stock drop dragged on U.S. markets. Shares rose in France and Britain early Friday but declined in Germany. U.S. shares were set to trade mixed…
Kreiszeitung
Within a single trading day, the Google Group loses nearly $500 billion on the stock exchange. Investors displease two things in the quarterly balance sheet.
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