Meta and Apple, two giants, continue to set historical highs
According to a report from Hong Kong's Wind Information, on December 3rd, Eastern Time, both Meta and Apple stocks hit record highs. On that day, Meta's stock price rose by 3.51%, closing at $613.65, with an intraday high of $614.2, setting a new historical high. Apple's stock price increased by 1.28%, closing at $242.65, with an intraday high of $242.76, also reaching a historical high. The strong performance of Apple and Meta stocks is attributed to their status as members of the "Magnificent Seven." Currently, Apple is the world's most valuable company, with a market capitalization of $3.67 trillion; Meta has a total market capitalization of $1.55 trillion, ranking seventh among U.S. stocks. In terms of the macro environment, further expectations of interest rate cuts by the Federal Reserve are favorable for technology stocks. Dan Ives, a senior equity analyst and global technology research head at Wedbush Securities, believes that despite external doubts, Apple's outlook is more optimistic than many expect. In an interview, Ives stated, "Wall Street is beginning to realize that the iPhone 16 will kick off a super cycle, and the sales performance in the Chinese market is strong, putting short sellers into hibernation." Ives rated Apple stock as "outperform" and set a target price of $300
According to Hong Kong's Wind Information, on December 3rd, Eastern Time, both Meta and Apple stocks hit record highs.
On that day, Meta's stock price rose by 3.51%, closing at $613.65, with an intraday high of $614.2, setting a new historical high.
Apple's stock price increased by 1.28%, closing at $242.65, with an intraday high of $242.76, also reaching a historical high.
The strong performance of Apple and Meta's stock prices is attributed to their status as members of the "Magnificent Seven." Currently, Apple is the world's most valuable company, with a market capitalization of $3.67 trillion; Meta's total market capitalization is $1.55 trillion, ranking seventh in the U.S. stock market. In terms of the macro environment, the Federal Reserve's further interest rate cut expectations are favorable for technology stocks.
Dan Ives, a senior equity analyst and global technology research head at Wedbush Securities, believes that despite external doubts, Apple's outlook is more optimistic than many expect. In an interview, Ives stated, "Wall Street is beginning to realize that the iPhone 16 will kick off a super cycle, and the sales performance in the Chinese market is strong, putting short sellers into hibernation." Ives rated Apple stock as "outperform" and set a target price of $300. He expects that the sales of the iPhone 16 will drive a super upgrade cycle powered by artificial intelligence, breaking the annual sales record for iPhones and attracting over 90 million users to upgrade their devices, helping Apple reach a market capitalization of $4 trillion by 2025.
Meta's stock price has recently soared, continuously setting historical highs, demonstrating strong growth momentum. In the past three months, about 50 analysts have evaluated Meta, providing ratings ranging from "strong buy" to "hold." Raymond James, a Wall Street analyst, reaffirmed a "buy" rating for Meta on November 25, 2024, setting a target price of $675, which is a relatively optimistic view among analysts.
Overall, Meta has made positive progress in technological innovation, market expansion, and internal management, further consolidating its leading position in the technology industry.
Recently, Meta announced plans to invest $10 billion in building global undersea cables to enhance its control over internet infrastructure. Meta also recently released a new generation of artificial intelligence models capable of generating videos with sound, showcasing its ongoing innovation in AI technology.
Source: wind