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Core News Facts
The Nasdaq Composite index entered a new bull market in 2023, with an average annual return of 31% during past bull markets since 1990. Notably, hedge fund billionaires like Stanley Druckenmiller, Israel Englander, Ken Griffin, and Philippe Laffont have significantly increased their positions in Meta Platforms (META) and Alphabet (GOOGL) in the third quarter of 2023.
Meta reported a 26% increase in revenue to $51 billion and a net income increase of 20% to $7.25 per diluted share for Q3 2023. Alphabet’s revenue also grew by 16% to $102 billion, with a GAAP earnings increase of 35% to $2.87 per diluted share. Both companies are integrating AI technologies to enhance content relevance and advertising efficacy.
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