{"id":55370,"date":"2024-02-02T08:30:14","date_gmt":"2024-02-02T08:30:14","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/amazon-and-meta-surge-after-results-while-apple-drops-the-express-tribune\/"},"modified":"2024-02-02T08:30:14","modified_gmt":"2024-02-02T08:30:14","slug":"amazon-and-meta-surge-after-results-while-apple-drops-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/amazon-and-meta-surge-after-results-while-apple-drops-the-express-tribune\/","title":{"rendered":"Amazon and Meta surge after results, while Apple drops | The Express Tribune"},"content":{"rendered":"
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Meta Platforms\u00a0and Amazon.com\u00a0added a combined $280 billion in stock market value late on Thursday after the Big Tech duo reported quarterly results that impressed investors, while Apple’s\u00a0value shrank by $70 billion after its results.<\/p>\n

Meta’s stock surged over 14% to a record high $451 after the bell, elevating its market capitalization by $148 billion to $1.16 trillion after the\u00a0Facebook owner declared its first-ever dividend<\/a>.<\/p>\n

While dividends are associated with mature, slow-growth companies, Meta delivered a 25% jump in revenue to $40.1 billion for the December quarter, fueled by robust advertising and device sales.<\/p>\n

Amazon’s stock jumped 8% after the company\u00a0beat December-quarter revenue expectations<\/a>\u00a0on strong growth in online spending during the critical holiday shopping season. That put the online shopping and cloud-computing heavyweight’s market capitalization at $1.78 trillion.<\/p>\n

Apple’s\u00a0quarterly results<\/a>\u00a0beat analysts’ expectations, but its sales in China missed estimates and its stock dipped 3.3%. Apple faces tough competition in China, which has worried Wall Street in recent months.<\/p>\n

Investor optimism about generative AI drove rallies in the U.S. stock market’s most valuable companies last year, with many hitting all-time highs in recent sessions.<\/p>\n

Microsoft\u00a0in January eclipsed Apple as the world’s most valuable company, with investors viewing Apple as lagging in the artificial-intelligence race between Wall Street’s tech heavyweights.<\/p>\n

Asked on an investor call about generative AI, Apple CEO Tim Cook said, “We’ve got some things that we’re incredibly excited about that we’ll be talking about later this year.”<\/p>\n

Microsoft’s lead over Apple in stock market value will probably grow over the next five years thanks to its early advantage in AI,\u00a013 analysts consulted last week<\/a>by Reuters unanimously agreed.<\/p>\n

“For Apple to be able to accelerate growth, we would need either a material contribution from new products like the Vision Pro or a generative AI driven cycle to come through the iPhone 16,” DA Davidson analyst Gil Luria said following its results.<\/p>\n

Apple starts US sales of\u00a0its Vision Pro mixed-reality headset<\/a>\u00a0on Friday.<\/p>\n

In its report after the bell, Meta said its 2024 capital expenditures would reach between $30 billion and $37 billion, a $2 billion increase over its previous plan, driven by investments in servers, some of which will be used for AI.<\/p>\n

Chipmakers Nvidia\u00a0and Advanced Micro Devices\u00a0both climbed about almost 2% in extended trade, while server maker Super Micro Computer added 2%.<\/p>\n

The extended-trade surge in Meta’s market capitalization was equivalent to more than five times the entire $26 billion value of smaller social media rival Snap Inc.\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Meta Platforms\u00a0and Amazon.com\u00a0added a combined $280 billion in stock market value late on Thursday after the Big Tech duo reported quarterly results that impressed investors, while Apple’s\u00a0value shrank by $70 billion after its results. Meta’s stock surged over 14% to a record high $451 after the bell, elevating its market capitalization by $148 billion to […]<\/p>\n","protected":false},"author":2,"featured_media":55371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/IMG_61701696398795-0\/IMG_61701696398795-0.jpeg","fifu_image_alt":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-55370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t