America’s largest technology companies — specifically, those in the “Magnificent Seven” — make up almost 30% of the total value of the S&P 500, so changes in their stock prices can have a major impact on the broad market index. Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) is one of the standouts so far, but not in a good way. Since Alphabet released its results on Oct. 24, its stock price has fallen by 12% as investors digested a slowdown in growth in the company’s cloud computing segment, which is home to many of its artificial intelligence (AI) initiatives.
2 Reasons the 12% Sell-Off in This Trillion-Dollar Stock Is Way Overdone
