Meta Extends Winning Streak to 20 Days, Outperforms Magnificent Seven
Meta Platforms (META) continues to dominate the "Magnificent Seven" stocks, extending its record-breaking winning streak to 20 consecutive days on Friday. The stock has not recorded a losing session since February 1st.
Year-to-date, META has surged 25.8%, far surpassing its peers. Amazon (AMZN) ranks second with a 4.2% gain, while Tesla (TSLA) trails behind with an 11.9% decline.
Meta's stock reached a record high of $736.67 on Friday, marking a remarkable 600% increase since its lows in 2022.
Following the company's strong earnings report, analysts have applauded its AI investment plans. Meta's announcement to spend up to $65 billion on AI this year has boosted investor optimism.
Industry expert Gil Luria notes that Meta is leveraging AI-enabled features to enhance platform activity and ad engagement. The company aims to gain market share and emerge as a leader in its key categories.