Big Tech could be besieged But the stock is too powerful.
Facebook Inc. shares FB,
Google parent Alphabet Inc. GOOGL,
And Microsoft Corp. MSFT
It closed a record high on Monday, which fueled strong U.S. job growth last month, despite criticism of its influence on the economy and lives of the techy Nasdaq Composite Index COMP. high
Up 1.7%, pushing record for other technology titles including Oracle Corp. ORCL.
HP Inc., HPQ,
And major semiconductor device suppliers
Facebook rose 3.4% to $ 308.91 per share as the social network giant continues to grow despite lawsuits from the Federal Trade Commission and 48 state attorneys claiming anti-competitive business practices. As well as a warning from its own chief financial officer about the slowdown in digital advertising. Its aorta Facebook’s original record-breaking closing price closed at $ 303.91 on Aug. 26, 2020.
On Saturday, members of the low-level hacking forum published the phone numbers and personal information of 533 million Facebook users, the latest in controversy for the social networking company. But it doesn’t seem important Indeed, Facebook’s ad prices are up 30% from their 2020 level in mid-March, according to research by marketing agency Aisle Rocket.
Alphabet, the subject of a Justice Department lawsuit and two state AG series, rose 4 percent to $ 2,218.96.The company partially benefited from a U.S. Supreme Court victory over Oracle in a lengthy copyright dispute over Oracle. Android software
For more information: The Supreme Court sided with Google in a $ 8 billion copyright dispute with Oracle.
Facebook and Alphabet face lawsuits and legislation to curb many of their influence. But the way of their stocks remains the same.
Facebook Chief Executive Mark Zuckerberg has become the technology lightning rod for data collection practices, privacy policies and micro-consumer targeting.Zuckerberg, CEO of Alphabet Sundar Pichai and Twitter Inc. TWTR.
Each CEO Jack Dorsey has been bashed out by members of the house over the spread of misinformation on a sprawling digital platform.
Members of Congress have vowed to pass laws that reduce their ability to compete, as Facebook does for Instagram and WhatsApp, as well as protect consumers. Congressman Jan Schakowsky (D., Ill.) Has issued a bill against the sale of stolen, counterfeit and malicious consumer products online, requiring third-party vendor verification in the online retail marketplace.
Microsoft, which had its antitrust scrutiny and positioned itself as the White Knight during the Big Tech backlash, jumped 2.8 percent to $ 249.07.
The three tech giants are not alone. More than a dozen tech greats – including Oracle, HP, Texas Instruments Inc. TXN,
And three major chip equipment suppliers Lam Research Corp. LRCX.
Applied Materials Inc. AMAT,
And KLA Corp. KLAC
– Stocks intraday highs hit on Monday, according to market data research by Dow Jones Oracle, Texas Instruments, Lam Research, Applied Materials, KLA and HP all closed record highs.