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Here’s How The ‘MAGA’ Tech Giant Stocks Performed In Q1

2020 has been a challenging year so far for the financial markets, which continue to battle the economic impact of the novel coronavirus (COVID-19) pandemic.

Other events, including the war-like situation between the United States and Iran, the U.S. trade war with China, and the recent oil pricing battle between Saudi Arabia and Russia have all added to the trouble.

There were four companies in the U.S. with a market capitalization of more than $1 trillion ahead of the sharp fall caused by the COVID-19 pandemic in the second week of March.

Microsoft Corporation (NASDAQ: MSFT), Apple Inc. (NASDAQ: AAPL), Google parent company Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG), and Amazon.com Inc. (NASDAQ: AMZN) arranged to read “MAGA,” were hailed by President Donald Trump as the symbol of his campaign to “Make America Great Again.”

The SP 500 Index is down 20%, and the Nasdaq composite index is down 14.18% at the end of the first quarter this year. Here’s how the MAGA stocks performed in comparison.

Microsoft

Microsoft is mostly unchanged at the end of Q1 at $157.71. The stock closed the last year at $157.7 per share.

The company’s stock is relatively higher because some of its cloud-based products, especially telecommute app Teams, have seen a tremendous surge in usage due to the lockdowns imposed by authorities across the globe.

Apple

Apple closed at $254.29 on Tuesday, down about 13.4% since closing 2019 at $293.65.
The company’s shares have dropped significantly as both the company’s supply chain and demand have been impacted by the outbreak.

Apple downgraded its expectations for the first-quarter earnings as the coronavirus spread in China, and the business was further impacted when the consumer electronics company had to shut down all of its stores globally outside of China due to the pandemic.

Alphabet

The Google parent company’s Class A shares are down 13.24% at the end of Q1 at $1,161.96. The stock had closed 2019 at $1,339.39 per share.

While the usage of internet services has increased due to the pandemic, as people across the world stay at home, the revenue from advertising has seen a sharp decline.

With a majority of businesses either shut down or facing a financial crunch, Alphabet’s main revenue source is significantly impacted.

Amazon

Amazon closed at $1,949.72 on Tuesday, the only company among the big four to have posted gains so far this year.

The stock is up about 5.5% since December 31’s closing price of 1,847.84.

The e-commerce giant has particularly benefited from the increased demand for home deliveries during the pandemic lockdown.

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