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Alphabet and Meta Platforms Both Hit All-Time Intraday Highs Amid General Nasdaq Strength

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Jerry Kronenberg wrote a column · Jul 5 12:14
"Magnificent 7" stocks $Alphabet-A (GOOGL.US)$ and $Meta Platforms (META.US)$ both hit new intraday all-time highs Friday despite no apparent news for the names -- although the market saw general enthusiasm for components of the $Nasdaq Composite Index (.IXIC.US)$, which also reached record territory.
META added as much as 5% to a $535.67 intraday record high, while GOOGL gained as much as 2.5% to a $190.44 all-time peak.
The stocks rallied despite no official news from either company. However, Zacks Investment Research named Alphabet as one of its "Investment Ideas" for Friday, while Bernstein Research wrote positively on Wednesday about Meta's AI efforts.
The "Mag 7" also continued to be popular in general on Friday, helping drive both the Nasdaq Composite Index and the $S&P 500 Index (.SPX.US)$ to new intraday record highs.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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