Investing.com - Financial Markets Worldwide

Microsoft and Meta boost premarket trading, Apple slips on court ruling

Published 01/05/2025, 10:02
© Reuters.
MSFT
-1.78%
ORCL
-4.30%
GOOGL
-0.91%
AAPL
1.91%
AMZN
1.28%
NVDA
-1.24%
AVGO
-1.90%
TSLA
-0.11%
META
-1.41%
NOW
0.80%
DDOG
-0.38%

Investing.com -- Tech giants Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META), formerly known as Facebook, led a robust premarket trading session on Thursday, with their shares climbing as much as 8.1% and 6.9% respectively.

This surge came after both companies reported quarterly results that surpassed expectations.

Meanwhile, Apple shares (NASDAQ:AAPL) took a hit, slipping 1.6% following a federal judge’s ruling that the company had violated a court order regarding its App Store.

Microsoft’s third-quarter results highlighted the company’s thriving cloud business, which continues to reap benefits from the growing demand for AI services. This positive performance also seemed to buoy other software and cloud stocks.

Oracle (NYSE:ORCL) saw a rise of 3.2%, Datadog (NASDAQ:DDOG) increased by 4.3%, and ServiceNow (NYSE:NOW) improved by 1.9%.

Meta’s first-quarter results not only beat expectations but also offered an optimistic outlook. The company also announced an increase in its full-year forecast for capital expenditures as it continues to focus on AI investments.

This news positively impacted AI infrastructure stocks, with Arista Networks (NYSE:ANET) jumping 8.2%, while Broadcom (NASDAQ:AVGO) also saw a 3% rise.

In other tech stock movements, among the so-called "Magnificent Seven" or "Mag 7", Amazon (NASDAQ:AMZN) and Nvidia (NASDAQ:NVDA) both rose by 3.7%, and Alphabet (NASDAQ:GOOGL) improved by 1.1%.

Apple, on the other hand, experienced a downturn, with its shares dropping by 1.6% in response to a federal judge’s ruling. The judge stated that Apple had violated a court order requiring it to open the App Store to third-party payment options.

Tesla (NASDAQ:TSLA)’s stock remained largely unchanged in premarket trading.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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