Tech Bros’ fortunes take a hit | Job Binary

Big tech’s big spending this week has dealt a big blow to the personal bottom lines of the tech fraternity.

Tech giants lost $560 billion in market value this week after a disastrous earnings season for mega-caps led by Amazon.AMZN). Microsoft (MSFT), Alphabet (GOOGLE) and meta platforms (META) were all disappointing, and Apple (AAPL) warned that disruptions in the supply chain would still hit it hard.

Facebook’s parent company Meta (META) has faced challenges as companies move away from digital advertising, increased competition from social media company TikTok, and doubts about the future of Metaverse.

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