Facebook, Alphabet and Microsoft hit all-time highs

1 minute
Facebook, Alphabet and Microsoft hit all-time highs

Mark Zuckerberg speaks at the F 8 Developers Conference on April 30, 2019 in San Jose, California.

Shares of Facebook, Alphabet and Microsoft each hit all-time highs on Monday as investors poured back into cyclical stocks and rotated away from growth.

As much as 4% were traded to Facebook at$ 310.77 per share briefly. Alphabet climbed as much as 4.3% to trade$ 2,222.

44 apiece, while Microsoft gained 3.1% to reach$ 249.75. The gains came amid strong market sentiment, boosted last month by strong U.S. job growth.

The tech-heavy Dow Jones Industrial Average gained 1.4%, while the Nasdaq Composite rose 400 points to an all-time high. The peers of the tech companies were also boosted early Monday: shares of Amazon were up as much as 2.1% while Apple was up by 1.9%.

meanwhile, Tesla continued to increase on production and delivery figures that broadly beat expectations. The stock of the company was up as much as 7%, and Oracle was also likely boosted after the Supreme Court sided with Google over the software used in Android.

Brian Nowak also wrote a note on Monday that its analyst, Morgan Stanley, said that the Google parent company was a favored pick at 13x '22 EBITDA with several upside drivers -- dark horse travel trades, expanding YouTube trends, continued Google Cloud Platform top-line traction and potential margin upside with opex discipline.

  • Comments
Loading comments...