Nasdaq notches five-week streak: Longest since November 2021

Tech stocks on display at the Nasdaq. Peter Kramer | CNBC The Nasdaq just wrapped up its fifth straight week of gains, jumping 3.3% over the last five days. It’s the longest weekly winning streak for the tech-laden index since a stretch that ended in November 2021. Coming off its worst year since 2008, the … Read more

Wall Street analysts are bullish on META, NVDA & FSLR

Here are Thursday’s biggest calls on Wall Street: JMP downgrades Peloton to market perform from outperform JMP downgraded the stock mainly on valuation. “We are downgrading our rating on shares of Peloton from Market Outperform to Market Perform as Peloton reached our prior $16 price target while we leave our FY2024 estimates largely unchanged following … Read more

Meta lost $13.7 billion on Reality Labs in 2022 after metaverse pivot

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., demonstrates the Meta Quest Pro during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. Michael Nagle | Bloomberg | Getty Images Mark Zuckerberg’s dream of a future in the metaverse is costing investors a boatload of money. In its earnings … Read more

Facebook and Instagram will reinstate Trump after two-year ban

An image of President Donald Trump appears on video screens before his speech to supporters from the Ellipse at the White House in Washington on Wednesday, Jan. 6, 2021, as the Congress prepares to certify the electoral college votes. Bill Clark | CQ-Roll Call, Inc. | Getty Images Meta will allow former President Donald Trump … Read more

Barclays upgrades AMD, says semiconductor maker can maintain server leadership while branching out

Advanced Micro Devices could rally as it maintains server leadership and branches out in other areas of technology, Barclays said. Analyst Blayne Curtis upgraded the semiconductor maker to overweight from equal weight. His price target of $85 implies a 21.3% upside from where the stock ended Friday’s trading session. Curtis expects personal computer demand to … Read more

Layoffs at Alphabet sign Big Tech managing ballooning expenses

Google parent Alphabet (GOOGL) on Friday became the latest technology giant to lay off thousands of workers — a move we expected from the Club holding given falling advertising revenue and growing fears of a recession. “I take full responsibility for the decisions that led us here. Over the past two years, we’ve seen periods … Read more

Did the market already show its hand in the first week of 2023? What we’ve learned so far

Based on the initial market action of 2023, it appears investors’ New year’s resolutions were something like this: Keep Big Tech in the penalty box, place some bets on foreign-stock outperformance, while feasting on bonds of all kinds to capture healthy yields and maintaining some hope that the elusive soft economic landing remains possible. No … Read more

Apple, Amazon lost a ‘staggering’ $800 billion in market cap in 2022

Sometimes a little perspective is needed to really drive home the magnitude of a specific statistic. That’s the case with the gigantic losses tallied by Apple and Amazon last year. The two stocks were the biggest losers of market cap in 2022. Apple shed $846.34 billion in value and Amazon lost $834.06 billion. Market cap … Read more

More social media regulation is coming in 2023, members of Congress say

The U.K.’s Online Safety Bill, which aims to regulate the internet, has been revised to remove a controversial but critical measure. Matt Cardy | Getty Images News | Getty Images Days after Congress passed a bipartisan spending bill banning TikTok from government devices, legislators and advocates say they are looking to further regulate social media … Read more

Nasdaq closes out its first four-quarter slump since dot-com crash

The once high flying tech sector has endured a heavy selloff this year amid concerns that the sector’s growth could be curtailed by rising interest rates. The tech-heavy Nasdaq Composite is down more than 14%. Chris Hondros | Newsmakers | Getty Images A lot has changed in technology since the dot-com boom and bust. The … Read more