Investor sentiment on Meta Platforms (NASDAQ: META) stock, in addition to other big tech industry titles, was rather positive on Thursday. Many of these companies were basking in the glow of what was perceived to be Alphabet’s big victory in an antitrust case brought by the federal government.
Additionally, a prominent researcher flagged Meta as one of the sector’s stocks best positioned to take advantage of the artificial intelligence (AI) revolution. With this winds at its back, Meta’s stock booked a 1.6% gain on the day, almost exactly double the percentage rate increase of the S&P 500 index.
U.S. District Court for the District of Columbia Judge Amit Mehta ruled that Google, Alphabet‘s core business, need not break itself up with the sale of its Chrome web browser. Although the ruling mandates that the company share some of its data with certain peers, among other minor punitive measures, it falls well short of the business split the government was seeking in the antitrust suit.