Amazon and Meta surge after results, while Apple drops
Meta Platforms and Amazon.com added a combined $280 billion in stock market value late on Thursday after the Big Tech duo reported quarterly results that impressed investors, while Apple's value shrank by $70 billion after its results . Meta's stock surge d over 14% to a record high $451 after the bell, elevating its market capitalization by $148 billion to $1.16 trillion after the Facebook owner declared its first-ever dividend. While dividends are associated with mature, slow-growth companies, Meta delivered a 25% jump in revenue to $40.1 billion for the December quarter, fueled by robust advertising and device sales. Amazon's stock jumped 8% after the company beat December-quarter revenue expectations on strong growth in online spending during the critical holiday shopping season. That put the online shopping and cloud-computing heavyweight's market capitalization at $1.78 trillion. Apple's quarterly results beat anal...