Alphabet Inc. shares [GOOG] are off 0.7% in Monday trading and on track to post a decline for the seventh straight trading session. That would mark their longest losing streak since a seven-session span that ended Sept. 10, 2018, according to Dow Jones Market Data. Alphabet’s market value has fallen to about $1.2 trillion, from a peak of $1.86 trillion last November. The stock has gotten swept up in broader concerns about the state of the online-advertising market and whether big technology companies have more staff than is optimal for a softer climate. Bernstein analyst Mark Shmulik wrote last week that his Hardy Boys-like analysis suggests “margins can go higher” at the company. Shares of Alphabet have lost 38% over the past 12 months as the S&P 500 index has declined 16% over the same span.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.