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Apple Jumps on Earnings, Microsoft Slides, Meta Climbs
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Apple (AAPL)'s revenue in the holiday quarter trounced Wall Street estimates, driven by strong demand for the new iPhone 17, growth in services and a rebound in China. jumped 16% to $143.8 billion in the period that ended Dec. 27, driven by strong demand for the new iPhone 17, growth in services and a rebound in China. The company's revenue from the iPhone totaled $85.3 billion during the period, with higher-end versions of the device being especially popular, and services generated $30 billion in the quarter.
- Microsoft (MSFT) shares got caught up in a selloff Thursday that wiped out $357 billion in value, second-largest for a single session in stock market history. The software giant’s stock closed down 10%, its biggest plunge since March 2020, following Microsoft’s earnings after the bell Wednesday, which showed record spending on artificial intelligence as growth at its key cloud unit slowed.
- Meta Platforms (META) shares climbed as much as 11% on Thursday, their biggest intraday jump since July 31, after the Facebook parent gave a revenue outlook that was much stronger than expected, which helped offset the impact of higher AI-related spending.
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