Big Tech stocks surged on Friday following strong results from Amazon and Meta, with the Facebook owner recording the biggest-ever one-day increase in a company’s market value.
The social media group closed 20.3 per cent higher — boosting its market capitalisation by $197bn to $1.2tn, according to Bloomberg — after its fourth-quarter sales and outlook exceeded forecasts, alongside the surprise introduction of its first-ever quarterly dividend.
Meta’s move eclipsed previous records that saw Amazon and Apple each jump about $190bn in a single day in 2022.
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