Skip to main content

Facebook Inc's (FB) already slim chances of being the first company to a trillion-dollar market cap just got a lot slimmer.

The social networking giant's roughly 20% plunge on Thursday following a disastrous second-quarter earnings report wiped out more than $100 billion from Facebook's market cap, dropping its valuation to just over $500 billion and putting it in danger of being passed by Alibaba (BABA)  ($503 billion) and Warren Buffett's Berkshire-Hathaway BRK.B ($494 billion) as the world's fifth-most valuable public company.

Meanwhile, Apple Inc. (AAPL) continued to inch closer to the finish line, while Alphabet Inc. (GOOGL) and Microsoft (MSFT) , which both reported strong second-quarter earnings recently, gained slightly on Amazon.com Inc.  (AMZN) , which reports its own Q2 earnings on Thursday after the close (TheStreet will be live blogging Amazon's second-quarter earnings and analyst call; please check our home page then for more details).

Scroll to Continue

TheStreet Recommends

It's turning into a horse race, for sure.

Facebook, Apple, Amazon, Microsoft and Alphabet are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells FB, AAPL, AMZN, MSFT or GOOGL? Learn more now.