Expanding Empires: Alphabet and Meta Maintain Steady Growth
In the ever-evolving world of technology and finance, here are some noteworthy updates that have caught our attention:
The US Federal Reserve has lowered its key interest rate by 25 basis points, bringing it to a range of 4.00 to 4.25 percent. This move, described by Fed Chairman Jerome Powell as 'insurance,' is intended to provide a cushion in case the economy slows down further.
In the realm of technology, Meta, formerly known as Facebook, has made a significant stride with the unveiling of the Meta Ray-Ban Display. This innovative product, presented by Meta's CEO, Mark Zuckerberg, at the Meta Connect conference, is a pair of glasses capable of displaying information on one of the lenses, including text messages, photos, or videos.
The success of the global digitalization trend is also reflected in the performance of the GAFAM Index. This index, which allows investors to benefit broadly from the success of Alphabet, Apple, Meta, Amazon, and Microsoft, was launched at 100 points at the end of 2016. As of now, it stands at almost 660 points, indicating a robust growth in the tech sector.
Speaking of individual tech giants, Alphabet's stock has performed particularly strongly recently. After reaching its annual low in early April, it has risen by more than 70 percent, demonstrating a strong recovery.
For those interested in learning more about products to bet on for the triumph of Alphabet, Apple, Meta, Amazon, and Microsoft, more information can be found here.
Lastly, there's a possibility of two more rate cuts this year from the US Federal Reserve, as the economy continues to be monitored closely. Stay tuned for further updates as the situation unfolds.
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