Big Tech Stocks Down Big as Wall Street Hit Hard
If, after seeing a who’s who of Silicon Valley executives at President Trump’s inauguration in January, you believed it was going to be the Year of Big Tech, you’d be wrong — at least so far.
Instead, four of the five major tech companies represented at the inauguration — Amazon, Apple, Tesla and Alphabet, Google’s parent company — have seen their share prices take a noticeable hit to start 2025. Only Meta, who was represented by CEO Mark Zuckerberg, has seen its share price climb this year.
Here’s how those companies have performed on Wall Street since the start of the year, by mid-morning on Tuesday:
— Meta: up 4.7%
— Apple: down 1.9%
— Amazon: down 9.6%
— Alphabet: down 11.8%
— Tesla: down 30%
Tesla, as seen above, has been particularly hard-hit in 2025. CEO Elon Musk has been spearheading the Department of Government Efficiency for President Trump, as both are aiming to cut at least $1 trillion from the federal bureaucracy.
Musk’s time spent away from his electric car company has upset some investors, who are calling for him to spend more time on Tesla and less time on DOGE. Reports of softening sales in China have not helped, either, although Tesla bulls are pointing to revamped models, the expansion of its self-driving technology and the launch of its $20,000 Optimus robots as reasons to be optimistic.
From a macro standpoint, the market has taken a downturn recently, with many analysts saying the tariffs imposed by President Trump have been a key driver of the dip. The Nasdaq, Dow Jones and S&P 500 were all down about 2% on Tuesday, a day after the president said he would be imposing tariffs on China, Canada and Mexico.
The Wall Street slide for the major tech companies stands out, after Musk, Zuckerberg, Apple CEO Tim Cook, Alphabet chief Sundar Pichai and Amazon founder Jeff Bezos literally stood behind the president on Jan. 20 in Washington, D.C. Many Trump fans who attended the inauguration told TheWrap they were skeptical of Big Tech’s sudden embrace of Trump, aside from Musk, whom the crowd overwhelmingly seemed to like.
Now, it will be worth watching to see if investors remain skeptical of the market, or if they are “buying the dip” on these Big Tech stocks.