Big Tech stocks

The S&P's market cap markdown

Data: GlobalData; Chart: Harry Stevens/Axios

Big Tech's (mostly) civil wars

An illustration of the Google, Apple, Facebook and Amazon logos in a wrestling ring
Illustration:Rebecca Zisser/Axios

For a few moments last week it might have looked like the tech industry's very own World War III was breaking out, as Apple briefly kicked iPhone users who work at Facebook and Google off much of their own software as part of a privacy dispute.

Why it matters: Hostilities ended as quickly as they began — but the flareup reminded the world of just how completely, and complexly, the technologies and businesses of these giants are connected.

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