Reuters Meta Platforms and Amazon.com added a combined 280 billion in stock market value late on Thursday after the Big Tech duo reported quarterly results that impressed investors, while Apple39;s value shrank by 70 billion after its results.

Meta39;s stock surged over 14 to a record high 451 after the bell, elevating its market capitalization by 148 billion to 1.16 trillion after the Facebook owner declared its firstever dividend.

While dividends are associated with mature, slowgrowth companies, Meta delivered a 25 jump in revenue to 40.1 billion for the December quarter, fueled by robust advertising and device sales.

Amazon39;s stock jumped 8 after the company beat Decemberquarter revenue expectations on strong growth in online spending during the critical holiday shopping season. That put the online shopping and cloudcomputing heavyweight39;s market capitalization at 1.78 trillion.

Apple39;s quarterly results beat analysts39; expectations, but its sales in China missed estimates and its stock dipped 3.3. Apple faces tough competition in China, which has worried Wall Street in recent months.

Investor optimism about generative AI drove rallies in the U.S. stock market39;s most valuable companies last year, with many hitting alltime highs in recent sessions.

Microsoft in January eclipsed Apple as the world39;s most valuable company, with investors viewing Apple as lagging in the artificialintelligence race between Wall Street39;s tech heavyweights.

Asked on an…