Somejätti Meta's share price rose to a new record after the company announced that it would pay the first dividend in its history.
of the United States shares of technology giants have been on the rise on the New York stock market on Friday, when Facebook's parent company Meta Platforms published a strong result.
The technology giants' shares are part of the S&P 500 Communication Services index. It had risen strongly by 4.2 percent in the evening Finnish time.
Meta's share price had fallen by more than 21 percent to a new record. The share's rise is adding about 200 billion dollars (about 185 billion euros) to Meta's market value.
That would be a news agency Bloomberg's according to the report, the largest increase in market capitalization in one trading day and would surpass Apple and Amazon's records from 2022. Apple's market capitalization increased by $190.9 billion on its record day, and Amazon's by nearly the same amount.
On Thursday evening, after the closing of the US stock market, Meta published an earnings review for October-December that exceeded analysts' expectations and announced the first dividend in its company history.
In the wake of Meta's price rise, the smaller social media companies Snap and Pinterest were also up. Snap's price had risen by more than six percent and Pinterest's by five percent.
Remember of the shares of the so-called Magnificent Seven companies, the e-commerce giant Amazon had risen by almost eight percent, and the graphics processor manufacturer Nvidia by almost five percent. The term Magnificent Seven refers to seven large American technology companies.
On Thursday, Amazon also posted better-than-expected results for the last quarter of last year, thanks to strong Christmas sales and a Black Friday campaign.
On the other hand, the share of Apple, the manufacturer of iPhone smartphones, was mildly negative. The company's result for October–December exceeded market expectations, but the company's outlook is weighed down by concerns about the loss of stations in China.
The shares of the Magnificent Seven companies rose clearly last year, and the price increase lifted Wall Street's most important stock indices to new records last year. According to the news agency Reuters, the weight of the companies has already risen to 28 percent of the broad S&P 500 index.
There have been concerns in the market recently about how long the rise in the stocks of the biggest tech companies can continue. Strong results from Meta and Amazon may alleviate these concerns.
Among Wall Street's most important stock indexes, the S&P 500 had risen by 1 percent at 8:30 p.m. Finnish time, and the Dow Jones of large companies had risen by 0.3 percent. The technology-focused Nasdaq index was up 1.5 percent.
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