Facebook or Alibaba: Which Will Reach $1 Trillion Market Cap First – TradeStation Market Insights
Facebook or Alibaba. One — or both — of the tech giants could become the market’s next trillion dollar company next week.
Facebook (FB), the world’s top social media platform and fifth busiest website in the world, reports earnings. It’s jumped the last two quarters, including a solid beat on July 30. Mark Zuckerberg’s company also has excited Wall Street with a new small-business service called “Shops.” Updates on that offering could be especially impactful, especially with the holiday shopping season around the corner.
FB got another boost yesterday after smaller rival Snap (SNAP) reported a super-bullish quarter. Its metrics like revenue and usage demonstrated that social media has gained a ton of eyeballs from the pandemic. Twitter (TWTR) and Pinterest (PINS) also shot to new highs.
FB was valued at $794 billion yesterday. Earnings are due on