0932 GMT - Better-than-expected quarterly results from Microsoft and Meta Platforms should help quash fears that the Magnificent Seven were losing steam, AJ Bell's Dan Coatsworth says in a market comment. "Investors were losing interest for fears that the AI bubble might be about to burst or at least experience a slowdown," he says. Coatsworth also notes that market turmoil from President Trump's tariffs made U.S. Big Tech less attractive for investors, pushing them to look for opportunities in other parts of the world such as Europe. The positive premarket reaction represents a turning point for Big Tech stocks that performed poorly so far this year. Microsoft shares are up 8.3% premarket at $428, with Meta's stock up 6.3% at $583.30. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 05:32 ET (09:32 GMT)
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