MAG-7 earnings: Microsoft shares drop 5%, Meta up 2% after quarter results, both companies post profit

Tech giant Microsoft’s shares dropped 5 per cent, while Silicon Valley stock Meta was up 2 per cent after their October-December quarter results, according to AP reports. Both companies posted profits, it added.

Both Microsoft and Meta are part of the ‘MAG-7’ or ‘Magnificent 7’ tech stocks in US markets, along with Tesla, Nvidia, Google and Apple.