Neither. The designation is 12 midnight.
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A time of day. 11:48 pm or 23:48 hours.
noon
A normal clock has twelve hours and it goes through two cycles of that period every day. There are occasions when you need to know whether it the time referred to is in the fist cycle (midnight to noon = am) or the second (noon to midnight = pm).
AM (12 AM is midnight btw)
Noon is PM, midnight is AM.