Facebook Market Cap Hit $1 Trillion!

Facebook Market Cap Hit $1 Trillion!

What happened?

On June 28, the capitalization of Facebook reached $1 trillion, making it the fifth-biggest US company together with Apple, Microsoft, Amazon, and Alphabet.  The stock of Facebook closed at the new highs of $355.63. Why did this sudden optimism happen around the controversial name of the infamous social media developer? The rally was provoked by the US Federal Court’s decision yesterday that dismissed two antitrust lawsuits against Facebook. In December, the US Federal Trade Commission (FTC) sued social media giant for anticompetitive behavior. Now, 6 months later, U.S. District Judge James E. Boasberg said the FTC failed to provide evidence that FB controlled 60 percent of the social media sector. He gave the agency 30 days to make an amended complaint and provide more details.

Impressive financial data

Despite lawsuits, the social media owner posted encouraging financial data over the last four quarters. The company’s revenue outperformed Wall Street’s estimates and reached $26,171 billion in the first quarter of 2021 with earnings per share at 3.30.  Analysts expect the next earnings to be as good as the previous ones. They anticipate the revenue of $27,802 and EPS at 3.03. This makes Facebook stock an attractive investment these days. The release date of earnings data is set for July 28. 

34534.png

Technical analysis of Facebook stock

After closing at $355.63, we may expect a short-term correction to the support of $330 when the market opens at 16:30 MT (GMT+3) time. If the $360 level is crossed, the next potential target in focus will be located at $380.

FACEBOOKDaily.png

Don't know how to trade stocks? Here are some simple steps.

  1. First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open an account in FBS Trader or the MT5 account in your personal area.
  3. Start trading!

Similar

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera