Large technology companies may be under siege, but their stocks have performed poorly.
Facebook Inc. FB stock,
Alphabet Inc. GOOGL, Google’s parent company,
And Microsoft’s MSFT,
It closed at a record high on Monday. Despite criticisms of the US’s huge impact on the economy and American lives, US employment growth was strong last month. High-tech Nasdaq Composite Index COMP
Rose 1.7%, pushing other technology stocks to new highs, including Oracle (ORCL),
HP Inc. HPQ,
And large semiconductor equipment suppliers.
Facebook rose 3.4% to $308.91 per share. The social networking giant continued to thrive despite allegations by the Federal Trade Commission and 48 state attorneys of anti-competitive business practices and its chief financial officer. Officials warned about the slowdown of digital advertising business. , Its lifeblood. The closing price broke the historical record closing price of $303.91 set by Facebook on August 26, 2020.
On Saturday, members of a low-level hacker forum released the phone numbers and personal data of 533 million Facebook users, the latest in a series of controversies at the social networking company. But it seems irrelevant. A research by marketing agency Aisle Rocket shows that as of mid-March, Facebook’s advertising prices have indeed risen by 30% from 2020 levels.
Alphabet is the subject of the Justice Department lawsuit and two state AG lawsuits, and its stock price rose 4% to close at $2,218.96. The company benefited in part from its victory against Oracle in the US Supreme Court, which stemmed from a long-term copyright dispute over the software used by Android.
More content: The Supreme Court and Google have a copyright dispute with Oracle ($8 billion)
Facebook and Alphabet face a large number of lawsuits and legislation to control their huge influence, but their stock trends are still intact.
Facebook CEO Mark Zuckerberg (Mark Zuckerberg) has become a lightning rod for technology for data collection practices, privacy policies, and consumer micro-positioning. Zuckerberg, Alphabet CEO Sundar Pichai and Twitter Inc. TWTR,
CEO Jack Dorsey (Jack Dorsey) everyone is dissatisfied with members of the House of Representatives, they spread the wrong information on the huge digital platform.
Members of Congress have vowed to pass legislation to restrict their ability to find potential competitors and protect consumers, as Facebook does on Instagram and WhatsApp. House committee member Jan Schakowsky (Illinois, D.) proposed a bill requiring verification of third-party sellers in online retail markets to combat online sales of stolen, counterfeit, and dangerous consumer goods.
Microsoft skipped antitrust review and positioned itself as the “White Knight” during the Big Tech rebound. The stock price rose 2.8% to $249.07.
The three tech giants are not alone. More than ten technical supporters-including Oracle, Hewlett-Packard, Texas Instruments (Texas Instruments Inc.) TXN,
And three large chip equipment suppliers Lam Research Corp. LRCX,
Applied Materials Company AMAT
And KLA Corp. KLAC,
-According to Dow Jones market data research, it hit an intraday high on Monday. Oracle, Texas Instruments, Lam Research, Applied Materials, KLA and HP all closed at record high prices.