Tech

Facebook, Alphabet and Microsoft shares soar to all-time highs

Facebook’s CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California.
Justin Sullivan | Getty Images

Shares of Facebook, Alphabet and Microsoft each hit all-time highs Monday morning as investors rotated away from cyclical stocks and poured back into growth.

Facebook surged as much as 3.3% to briefly trade at $308.37 per share. Alphabet gained as much as 3.2% to hit $2,198.82 apiece, while Microsoft was up 2.6% to trade at $248.57.

The gains came amid broader market sentiment, boosted by strong U.S. job growth last month. The tech-heavy Nasdaq Composite gained 1.2%, while the Dow Jones Industrial Average rose 340 points to an all-time high.

The tech companies’ peers also were boosted early Monday. Shares of Apple were up as much as 2.1%, while Amazon was up 1.5%.

Tesla, meanwhile, continued to pop on production and delivery figures that broadly beat expectations. The company’s stock was up as much as 7%.

Alphabet was also likely boosted after the Supreme Court sided with Google against Oracle in a long-running copyright dispute over the software used in Android. Morgan Stanley also shared in Monday note that its analyst, Brian Nowak, said the Google-parent company was “a favored pick at ~13x ’22 EBITDA with several upside drivers – dark horse travel trade, surging YouTube trends, continued Google Cloud Platform top-line traction, and potential margin upside with opex discipline.”

Subscribe to CNBC on YouTube.

Products You May Like

Articles You May Like

Russia continues discussions with China on lunar exploration cooperation
Infinite Mobility And Its Solar Electric Vehicle Are Partnering With TukTuk Life For Record-Breaking Trip Around The World
Coinbase estimates Q1 revenue jumped nine-fold to about $1.8 billion ahead of public market debut
The Winding Road to Net Zero Leads Offshore
How It’s Made: Skateboard Wheels

Leave a Reply

Your email address will not be published. Required fields are marked *