Alphabet (GOOGL) Stock Just Had Its Worst Day Ever. What Went Wrong?

TLDR Alphabet (GOOGL) stock fell nearly 13% on Thursday, its worst day since going public in 2004. The company lost about $482 billion in market value, the second-biggest one-day loss ever for a US-listed company. Search revenue grew 12% to about $63 billion, short of the roughly $65 billion Wall Street expected. Google Cloud revenue more than doubled to about $31 billion, but free cash flow swung to a loss of about $9 billion. The drop pushed the stock into a “death cross,” and Amazon (AMZN) also fell after hours on heavy AI spending.

Source: CoinCentral