Tech giant Alphabet dropped over 6% after the open on Thursday, erasing over 260 billion of its market capitalisation after the company announced a bigger spending plan in its earnings report.
The Google parent announced its projected capital expenditures for 2026 to be between $195 billion and $205 billion, up from the previously expected $190 billion. The move managed to cast a shadow over the otherwise stellar second quarter results that came above analysts' expectations.
At 9:40 am ET, Alphabet's Class A shares declined 6.01% to sell for $321.52, while its Class C stock decreased by 6.03% to go for $321.71.
https://breakingthenews.net/Article/Alphabet-down-6-erases-dollar260B-in-market-cap/66761832
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