U.S. tech stocks plummet, with seven giants losing over $800 billion in market value

[Global Network Finance Comprehensive Report] As of Friday’s close, the Nasdaq index has fallen 3.23% this week, marking the largest weekly decline since the “tariff shock” in April last year. The “Big Seven” tech giants have been the main drivers of the decline, with a cumulative market value evaporating by over $800 billion this week.

Among individual stocks, Meta performed the worst, dropping over 11% in a week, marking its largest weekly decline since October 2025. The market is still digesting the impact of the company’s loss in the landmark “U.S. social media addiction case” ruling this week. According to Reuters, a ruling from a California federal court found that Meta engaged in deliberate practices to entice users into addiction through its algorithm design, which could open the floodgates for a series of subsequent lawsuits.

Alongside Meta, Google’s parent company Alphabet was also ruled to have enticed users into social media addiction and fell nearly 9% this week. Bloomberg analysis pointed out that this ruling could force both companies to adjust the content recommendation mechanisms of their core products, thereby impacting the foundational advertising revenue.

Microsoft fell 6.57% this week, with the company retreating nearly 34% from its historical peak. Nvidia and Amazon dropped nearly 3%, while Tesla saw a decline of less than 2%.

Apple has become the only tech stock among the Big Seven to maintain an upward trend, rising slightly this week. The consumer electronics giant will celebrate its 50th anniversary next week (April 1). According to tech media The Information, the company plans to allow more AI firms to access the Siri voice assistant beyond its existing partnership with ChatGPT, with specific details to be disclosed at the WWDC conference in early June.

Outside of the Big Seven, storage giant Micron Technology recorded an overall decline of 15.53% this week. This round of decline began on March 18 when the company released a significantly better-than-expected financial report, but the decline intensified this week after Google Research showcased a new AI memory compression technology called “TurboQuant.”

This technology claims to compress cache memory usage in large language model inference to one-sixth, raising market concerns about the demand for storage hardware. Micron Technology saw a continuous decline for the first four days of the week, rebounding on Friday. However, although it halted the “five-day losing streak” on Friday, the overall decline for the week still marked the largest of the year. (Chen Shiyi)

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