GRAPHIC-Tech market values jump in September on Fed rate cuts, AI optimism
BY Reuters | ECONOMIC | 10/02/24 06:26 AM EDTOct 2 (Reuters) - The market capitalization of many tech firms surged in September, buoyed by a Federal Reserve rate cut that typically enhances future profits and cash flows for high-growth companies, and further fuelled by continued enthusiasm for artificial intelligence.
Tesla's market value surged 22.2% last month to $834.4 billion by end-September, driven by record electric vehicle sales in China in August and its plans to introduce its Full Self-Driving (FSD) advanced driver assistance software in China and Europe.
Oracle Corp's
Meta Platforms Inc's
Amazon.com Inc's
On the other hand, Eli Lilly and Co's
(Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Kim Coghill)