07:28:35 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,650,000
Close 2024-01-02 C$ 19.52
Market Cap C$ 110,288,000
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FP/wire wonder if Apple and Big Tech can keep the pace

2024-01-02 07:48 ET - In the News

See In the News (C-AAPL) Apple CDR (CAD Hedged)

The Financial Post reports in its Tuesday edition that Big Tech's growth status is among the things Wall Street will be watching for in 2024. A Bloomberg dispatch to the Post says that from Nvidia to Microsoft, the seven largest U.S. tech stocks were responsible for 64 per cent of the S&P 500's rally in 2023 through last week as the artificial-intelligence frenzy took off. The Magnificent Seven -- which also includes Amazon, Apple, Google parent Alphabet, Meta Platforms and Tesla -- are expected to post 22-per-cent earnings growth this year, twice the S&P 500's advance, data compiled by Bloomberg's intelligence unit show. The key is how much of that is already baked into share prices, especially with expectations for a "soft landing" building. As Louis Navellier of Navellier & Associates sees it, six of the seven stocks are looking good heading into 2024. Only Apple will be sitting on the sidelines absent a cutting-edge product to boost its bottom line, Mr. Navellier said in a report. Bloomberg argues that with a wild 2023 for the U.S. stock market having closed, investors are full of optimism for 2024 as the S&P 500 Index sits within striking distance of its first all-time high in nearly two years.

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