ETF Winners Amid Last Week's Record Loss in "Magnificent 7"
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2024
0mins
Should l Buy META?
Source: Business Insider
- Technology Stocks Performance: Last week saw a collective loss of $950 billion from major tech stocks, surpassing the previous record loss in January 2022.
- Individual Performances: Tesla, Nvidia, Apple, Microsoft, Amazon, Alphabet, and Meta experienced significant market cap reductions due to stock declines.
- Semiconductor Market Impact: The semiconductor sector faced losses, with Nvidia's significant decline indicating potential sustained downturn.
- Wall Street Volatility: Heightened volatility and uncertainty were observed due to concerns over inflation and Federal Reserve policy shifts.
- U.S. Retail Sales Data: U.S. retail sales exceeded expectations in March, showing growth and positive revisions for February data.
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Analyst Views on META
Wall Street analysts forecast META stock price to rise
44 Analyst Rating
37 Buy
6 Hold
1 Sell
Strong Buy
Current: 611.910
Low
655.15
Averages
824.71
High
1117
Current: 611.910
Low
655.15
Averages
824.71
High
1117
About META
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in the world around them, enabling people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large. The Company's segments include Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp and Threads. RL segment includes its virtual, augmented, and mixed reality related consumer hardware, software and content. Its product offerings in VR include its Meta Quest devices, as well as software and content available through the Meta Horizon Store.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Revenue Growth: The first-quarter revenue rose 33% year-over-year to $56.3 billion, marking the fastest growth since 2021; even on a constant-currency basis, revenue increased by 29%, indicating a robust business recovery despite currency fluctuations.
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