Tech Giants' Stocks Slide, Erasing $383 Billion in Market Value

Apple, leading the downturn, faces downgrade from Barclays amid soft iPhone demand predictions.

The 'Magnificent Seven' tech stocks, including Apple, Amazon, Alphabet, Microsoft, Meta Platforms, Tesla, and Nvidia, have seen a four-day losing streak, the longest in a month.
Apple leads the slump with a 4.6% drop, contributing to a total loss of $383 billion in market value across the group.
Barclays analysts downgraded Apple shares to 'underweight' due to expected soft demand for iPhones.
Despite Tesla delivering more electric vehicles in Q4 than expected, it lost its top seller position to China's BYD.
While the tech rally of 2023 may be cooling, some companies, including Amazon, Alphabet, Meta, and Tesla, are still below their all-time highs, suggesting potential for future growth.