--- title: "QUICK SPARK: Alphabet Stock Eyes Worst Day in Company's History, Wipes Out $500 Billion in Value" type: "News" locale: "en" url: "https://longbridge.com/en/news/303591938.md" description: "Alphabet stock plummeted nearly 13%, marking its worst day since the 2004 listing and wiping out approximately $511 billion in market value. Despite Google Cloud sales doubling, investors reacted negatively to third-quarter earnings that missed estimates and capital spending more than doubling to $51.4 billion. This surge in AI-related costs pushed free cash flow negative for a second consecutive quarter, leading to zero stock buybacks and increased debt issuance." datetime: "2026-10-29T14:35:51.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/303591938.md) - [en](https://longbridge.com/en/news/303591938.md) - [zh-HK](https://longbridge.com/zh-HK/news/303591938.md) generator: "portal-rs" --- # QUICK SPARK: Alphabet Stock Eyes Worst Day in Company's History, Wipes Out $500 Billion in Value Google Cloud just doubled its sales in a single year. Investors responded by dumping **Alphabet Inc.** (NASDAQ:GOOGL) at a pace not seen since its 2004 listing. Class A shares fell 12.9% to $282.94 in early trading Thursday. The drop erased about $511 billion of market value, the second-largest one-day loss ever for a U.S.-listed company. Only **Nvidia Corp.** (NASDAQ:NVDA) has lost more, shedding about $593 billion on Jan. 27, 2025, when the launch of China’s DeepSeek rattled AI investors. For Alphabet itself, it is the worst session on record. The previous worst came on March 16, 2020, when the stock lost 11.6% during the pandemic crash. Third-quarter earnings per share came in at $2.12, well below the $3.02 consensus. Revenue of $127.6 billion also missed the $128.2 billion estimate, even as Google Cloud revenue jumped 103% to $30.7 billion. The problem is the bill. Capital spending more than doubled to $51.4 billion, which pushed free cash flow to negative $9.1 billion for a second straight quarter. As a result, Alphabet bought back no stock. Instead, it raised cash through debt and new shares. Chief Financial Officer **Anat Ashkenazi** said spending should rise significantly again in 2027. The **State Street Communication Services Select Sector SPDR ETF** (NYSE:XLC), which counts Alphabet among its largest holdings, fell 2.2%. *Chart: Alphabet Class A daily price change since 2004. Source: TradingView* ![Alphabet stock daily price change chart](https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2026/10/29095146/alphabet-googl-daily-price-change-tradingview.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) *Image: Envato Elements* ### Related Stocks - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GGLL.US](https://longbridge.com/en/quote/GGLL.US.md) - [GGLS.US](https://longbridge.com/en/quote/GGLS.US.md) - [GOIB.US](https://longbridge.com/en/quote/GOIB.US.md) - [GOOL.US](https://longbridge.com/en/quote/GOOL.US.md) - [GOOP.US](https://longbridge.com/en/quote/GOOP.US.md) - [GOOW.US](https://longbridge.com/en/quote/GOOW.US.md) - [GOOX.US](https://longbridge.com/en/quote/GOOX.US.md) - [GOOY.US](https://longbridge.com/en/quote/GOOY.US.md) - [GOU.US](https://longbridge.com/en/quote/GOU.US.md) - [XLC.US](https://longbridge.com/en/quote/XLC.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) ## Related News & Research - [Alphabet's Google Cloud unit beats quarterly revenue estimates on steady AI demand](https://longbridge.com/en/news/303445648.md) - [Google Cloud Revenue Just Grew 103%, so Why Is the Stock Falling?](https://longbridge.com/en/news/303467281.md) - [Why Alphabet's stock could see its worst drop in years after the latest results](https://longbridge.com/en/news/303530212.md) - [Google says its investments in AI are driving more searches](https://longbridge.com/en/news/303450865.md) - [Alphabet Inc. $GOOG Stock: Steinberganna Wealth Management Lowers Holdings](https://longbridge.com/en/news/303527946.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**