META May 2024 570.000 call
- Yahoo Finance Video
Under-investing in Mag 7 could mean 'big trouble': Strategist
With Nvidia's (NVDA) earnings failing to drive markets the way investors had hoped, Commerce Street Capital CEO Dory Wiley joins Market Domination to share his market outlook and discuss how investors should position themselves within the Big Tech sector. Wiley highlights the importance of Nvidia's earnings: "Nvidia drives Mag 7, Mag 7 drives the market." He acknowledges that Nvidia "blew it out of the water" with its results. However, he notes that Big Tech has been "a weak spot in the market" despite Nvidia's value proposition. Despite the recent pressure on Big Tech and the "Magnificent 7," Wiley remains optimistic about these stocks' long-term prospects: "[They] have fundamental reasons to keep growing and to keep driving the markets ... If you under-allocate, you're in big trouble." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
- Investor's Business Daily
Magnificent Seven Stocks: Nvidia Stock Extends Gains; Apple, Tesla Rally
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.
- Reuters
Meta submits changes to UK privacy compliance proposals, CMA says
The CMA had accepted commitments from Meta in November that would prevent the social media giant from "exploiting" its advertising customers' data. Those proposals included giving competitors that advertise on its platforms the ability to opt out of having their data used for improving Facebook Marketplace. Other changes, if any, to Meta's proposals, accepted earlier, were not disclosed.
