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META’s Record Surge and Big Tech Rally


Big Tech stocks soared on Friday after robust results from Amazon and Meta. Meta’s market capitalisation surged by $197bn to $1.2tn, recording the biggest one-day increase in a company’s value. The 20.3% gain came after strong Q4 sales, an optimistic outlook, and the introduction of Meta’s first-ever quarterly dividend.

Amazon shares rose 7.9%, adding about $135bn to its market value, following robust holiday retail sales. Nvidia, a key chipmaker for AI developers, gained 5% as Meta and Apple signalled increased AI investment. The gains followed a mixed week for tech earnings, with Apple and Alphabet disappointing investors.

The S&P 500 set a record closing high, up 1.1%, and the Nasdaq climbed 1.5%. While concerns over inflation and interest rates persist, the ‘Magnificent Seven’ tech stocks are expected to remain strong but may not replicate 2023’s stellar performance in 2024.

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