Meta and Apple, two giants, continue to set historical highs

According to a report from Hong Kong's Wind Information, on December 3rd, Eastern Time, both Meta and Apple stocks hit record highs. On that day, Meta's stock price rose by 3.51%, closing at $613.65, with an intraday high of $614.2, setting a new historical high. Apple's stock price increased by 1.28%, closing at $242.65, with an intraday high of $242.76, also reaching a historical high. The strong performance of Apple and Meta stocks is attributed to their status as members of the "Magnificent Seven." Currently, Apple is the world's most valuable company, with a market capitalization of $3.67 trillion; Meta has a total market capitalization of $1.55 trillion, ranking seventh among U.S. stocks. In terms of the macro environment, further expectations of interest rate cuts by the Federal Reserve are favorable for technology stocks. Dan Ives, a senior equity analyst and global technology research head at Wedbush Securities, believes that despite external doubts, Apple's outlook is more optimistic than many expect. In an interview, Ives stated, "Wall Street is beginning to realize that the iPhone 16 will kick off a super cycle, and the sales performance in the Chinese market is strong, putting short sellers into hibernation." Ives rated Apple stock as "outperform" and set a target price of $300