Latest News

Meta passes $1 trillion in market cap


In this article


Mark Zuckerberg, CEO of Meta, center, departs from federal court in San Jose, California, on Dec. 20, 2022.
David Paul Morris | Bloomberg | Getty Images

Metarecord rally.

Meta last exceeded $1 trillion in market cap in 2021, when it was still known as Facebook. It was the company’s first time hitting the milestone. In September 2021, its market cap approached $1.1 trillion.

The company’s soaring stock performance comes on the heels of an almost 200% surge last year, when CEO Mark Zuckerberg instituted cost-cutting measures that brought about more than 20,000 job cuts. Zuckerberg described 2023 as a “year of efficiency” after its stock plummeted to a six-year low in 2022.

Shares of Meta peaked at around $396 per share during intraday trading Wednesday. The stock was up more than 10% year to date at market close Wednesday.

Shareholders are bullish on Meta as it seeks to strengthen its position as a heavy hitter in artificial intelligence.

Last week, Zuckerberg said Meta will obtain 350,000 H100 graphics cards from Nvidia

Meta will report fiscal fourth-quarter earnings Feb. 1.

Microsoftbriefly surpassing $3 trillion in value nearly two weeks after overtaking Apple

Don’t miss these stories from CNBC PRO:

The S&P 500 is officially in a bull market now. Here’s how long they typically lastThe early winner in the bitcoin ETF race has raked in $1 billionGoldman Sachs names its top stocks for 2024, including this solar companyCD rates are coming down. Here’s where you can lock in yields of nearly 5% for 2 yearsBuy the dip in these bitcoin mining stocks over the next two months, Bernstein says

AMD Gets Another Upgrade. Why an Analyst Says the Stock Could Quadruple.

Previous article

Where Are The Rich Americans Moving This Year, And What States Are They Leaving?

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News