On May 16, 2024, Nicholas Clegg, President of Global Affairs at Meta Platforms Inc (NASDAQ:META), sold 8,425 shares of the company.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the early part of the second quarter of 2024 showed a big divergence of returns.
Microsoft and Meta face regulatory questions over their artificial-intelligence features, while the market reacts to Applied Materials' earnings.