Meta Platforms (NASDAQ: META) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) headed in opposite directions after their latest earnings reports. Meta's stock soared 20% to an all-time high on Feb. 2, after the social media giant followed up its big fourth-quarter earnings beat with rosy guidance for the first quarter, a $50 billion boost to its buyback plan, and the initiation of its first-ever dividend. Alphabet's stock sank 8% on Jan. 31, even though its fourth-quarter numbers easily cleared analysts' expectations with double-digit growth across its core businesses.

As of this writing, Meta's stock has rallied more than 150% over the past 12 months. Alphabet's stock has rallied just over 30%. Let's see why the bulls rushed to Meta instead of Alphabet -- and if that trend will continue throughout the rest of 2024.

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Source Fool.com