02:29:46 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 12,000,000
Close 2023-12-29 C$ 27.88
Market Cap C$ 334,560,000
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Globe/wire say Meta, others no longer only game in town

2023-12-29 08:54 ET - In the News

See In the News (C-META) Meta CDR (CAD Hedged)

The Globe and Mail reports in its Friday edition that as a strong year in U.S. stocks winds down, fund managers face a potentially consequential choice in 2024: stick with the Big Tech names, or take a shot on the rest of the market. A Reuters dispatch to The Globe says that shares of the so-called Magnificent Seven -- Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla -- have individually soared between around 50 per cent and 240 per cent in 2023, making them among the market's most rewarding bets. Expectations that the U.S. Federal Reserve will cut interest rates next year while the economy avoids recession have awoken other parts of the market in recent weeks. Meanwhile, some investors say the huge rallies in the seven may have left them overvalued or vulnerable to profit-taking. Data from the Apollo Group showed 72 per cent of the S&P 500's stocks underperformed the index this year, a record. However, there are signs the rally is broadening. The equal-weight S&P 500 has climbed 6.8 per cent in December against a 4.5-per-cent rise for the standard index, after lagging most of the year. Meanwhile, the previously sluggish small-cap Russell 2000 has soared about 14 per cent in December.

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