According to a report from Hong Kong's Wind Communication Agency, on December 3, Eastern Time,$Meta Platforms (META.US)$And.$Apple (AAPL.US)$Stock prices have all hit record highs.
On that day, Meta's stock price rose by 3.51%, closing at $613.65, reaching a peak of $614.2 during the day, setting a new all-time high.
Apple's stock price rose by 1.28%, closing at $242.65, reaching a high of $242.76 during the day, also hitting a new all-time high.
The strong performance of Apple and Meta's stocks is due to their status as members of the 'Magnificent Seven'. Currently, Apple is the company with the highest global market cap, valued at $3.67 trillion; Meta's total market cap is $1.55 trillion, ranking seventh in the U.S. stock market. In terms of the macro environment, further expectations of interest rate cuts from the Federal Reserve are beneficial for technology stocks.
Wedbush Securities' senior stock analyst and global technology research director Dan Ives believes that despite doubts from the outside, Apple's prospects are more optimistic than many people expected.
During an interview, Ives said, "Wall Street is starting to realize that the iPhone 16 will kick off a super cycle, with strong sales performance in the Chinese market, putting the short sellers into a hibernation." Ives gave Apple's stock an "outperform large cap" rating and set a target price of $300. He expects iPhone 16 sales to drive a super upgrade cycle driven by artificial intelligence, breaking annual iPhone sales records, attracting over 90 million users to upgrade their devices, and help Apple reach a $4 trillion market cap by 2025.
Meta's stock price has recently surged, hitting new historical highs repeatedly, showing strong growth momentum. In the past three months, approximately 50 analysts have evaluated Meta, providing ratings ranging from "strong buy" to "hold." Wall Street analyst Raymond James reiterated a "buy" rating on Meta on November 25, 2024, with a target price of $675, representing one of the more optimistic views among analysts.
Overall, Meta has made positive progress in technological innovation, market expansion, and internal management, further solidifying its leading position in the technology industry.
Recently, Meta announced plans to invest $10 billion to build a global underwater fiber optic cable network, aiming to enhance its control over internet infrastructure. Meta has also released a new generation of artificial intelligence models that can generate voice-enabled videos, demonstrating its ongoing innovation in AI technology.
Editor/ping