NASDAQ 100 Reaches Historic High. META Shares May Surpass the Historical High

<img src="https://images.unsplash.com/photo-1689439518156-3659596b5c6c?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wxMTc3M3wwfDF8c2VhcmNofDIyfHxtZXRhfGVufDB8fHx8MTcwNTY1MzAwMnww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=2000" alt="NASDAQ 100 Reaches Historic High. META Shares May Surpass the Historical High" /><p>The American stock index NASDAQ 100 has set a new historical high, surpassing the psychological mark of 17,000 points.</p><p>The growth was attributed to:</p><p>→ Analysts at Bank of America raising the rating of AAPL stocks, recommending them for BUY. The price of AAPL shares rose by almost 4%.</p><p>→ The growth of AMD and NVDA stock prices, as chip manufacturers are significant beneficiaries due to the widespread adoption of AI.</p><p>→ The earnings season gaining momentum. Market participants anticipate strong results from major technology companies (MSFT, GOOGL, NVDA, and others).</p><p>Note the movement of META stock price – the social media giant is close to reclaiming a $1 trillion market capitalisation.</p><figure><img src="https://lh7-us.googleusercontent.com/UruZOP5LI2hQhjpRjzmFRGzVdGvo8Y-gb8knuctHuVwhBTNME1GLmCPfUtC5nSLQBVZHKiPPZfTXfnvx7YuQMIfmbf5Cojjdvz2EvwX3l7jmSYkY5eXvM_zLzpQcXJa9CsgP4ldZuQeME2-DCbCrRl8" alt="NASDAQ 100 Reaches Historic High. META Shares May Surpass the Historical High" loading="lazy" /></figure><p>The META stock price chart shows that:</p><p>→ The market is in an upward trend (indicated by the blue channel). The price is above the median line, a sign of demand stability.</p><p>→ The level at $340 has shifted its role from resistance to support. A similar phenomenon is observed at the $360 level.</p><p>Mark Zuckerberg announced yesterday that by the end of 2024, the company&apos;s computing infrastructure would include 350,000 nVidia H100 graphics cards (designed for AI, costing between $25k and $40k each, according to CNBC).</p><p>It is not ruled out that riding on the positive momentum, the price of META shares may surpass the historical high. The publication of META&apos;s Q4 2023 performance report is scheduled for February 1, 2024.</p>