Despite a lackluster close for the major indices, several stocks hit major market-cap milestones. 🤩
First up is Microsoft, which briefly became the second company to cross the $3 trillion market value threshold. Although that didn’t hold into the close, what’s done is done, and the company certainly deserves to be celebrated. Meta’s rebound over the last two years pushed it back above the $1 trillion mark, bringing the total number of companies above this level to eight.
The chart below puts these values into perspective and shows how crazy they are. U.S. technology continues to dominate the top spots. 🤖
Additionally, Dutch semiconductor equipment manufacturer ASML jumped today after beating earnings expectations. The company reported a net profit of 2.05 billion euros on net sales of 7.2 billion euros, topping expectations of 1.86 and 6.90 billion euros. Fourth-quarter net sales jumped 12.5% YoY with a gross margin of 51.4%. 🔺
Looking ahead, management reiterated a conservative view for full-year 2024, expecting revenue to be flat YoY. It plans to use this slower-growth period to prepare for 2025, when demand is expected to ramp up again due to a rebound in consumer electronics like smartphones and continued artificial intelligence (AI) needs. ⚠️
The geopolitical tensions between the U.S. and China remain in focus as export curbs on advanced semiconductors and equipment weigh on sales. ASML, Nvidia, and others are working closely with regulators to create new products that meet guidelines.
$ASML shares surged 9% towards all-time highs, with the Stocktwits community feeling “extremely bullish.” Semiconductors and AI-related industries remain the hottest stocks in the market right now, so we’ll continue to keep on their earnings-season moves. 📈
