Bulls And Bears Of The Week: Meta, Apple, Microsoft, And Why Developments At Twitter Could Be Good News For Dogecoin

Benzinga2022-10-30 09:02

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Meta Platforms, Inc.

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ZINGER KEY POINTS

Twitter is reportedly working on a cryptocurrency wallet, which may support the use of Dogecoin, Elon Musk's favorite crypto.

As Meta's stock of plunges, short sellers have now generated more than $6 billion in profits year-to-date

Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.

The Dow Jones Industrial Average rallied on Friday, finishing the week 5.37% higher and closing out its fourth straight week of gains, despite some disappointing big tech earnings reports.

The S&P 500 was up 3.70% for the week, while the Nasdaq Composite gained 2.17%.

Some of the week's highlights included the Bureau of Economic Analysis on Thursday reporting that U.S. GDP grew 2.6% in the third quarter, and Friday marked the completion of Tesla CEO Elon Musk's $44-billion buyout of social media platform Twitter.

Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.

The Bulls

"Watch Out Tesla: Here's How Many Electric Vehicles General Motors Sold In The Third Quarter," by Chris Katje, details the growing number of electric vehicles General Motors Company reported selling in the third quarter.

In "Elon Musk's Love Affair With Dogecoin Continues As Twitter Considers Crypto Wallet," AJ Fabino writes that Twitter Inc is reportedly working on a cryptocurrency wallet, which may support the use of Dogecoin, Elon Musk's favorite crypto.

"You Can Now Get A New Apple Mac Every 3 Years With Monthly Payments — Thanks To BestBuy," by Ananya Gairola, reports that Best Buy Co Inc announced a Mac equivalent of Apple Inc’s iPhone Upgrade Program, allowing users to lease a laptop over three years.

The Bears

"Meta Platforms Is Now The 2nd Most Profitable Stock For Short Sellers In 2022, Behind Only Tesla," by Wayne Duggan, notes that as the price ofMeta Platforms Inc's stock plunges, short sellers have now generated more than $6 billion in profits year-to-date.

In "Microsoft Sees Dark Clouds Forming Over Azure Business Amid PC Market Slump," Shivdeep Dhaliwal writes that Microsoft Corp during its first quarter earnings call this week lowered expectations that cloud computing demand would mitigate the sagging PC market.

"Tesla Bull Cuts Price Target: Geopolitical Woes And US-China Economic Relations To Keep Shares Volatile," by Shanthi Rexaline, explains why Morgan Stanley analyst and Tesla Inc bull Adam Jonas lowered his price target for Tesla shares from $350 to $330.

source：Benzinga