Analysts have revised Meta Platforms' stock price target following the company's earnings report. Both Microsoft and Meta are seeing soaring profits yet their stocks are sagging, attributed to data centers not being built quickly enough. Despite a strong quarter, Meta's stock fell, in part due to CEO Mark Zuckerberg's ongoing AI spending spree. Top analysts have chosen Meta Platforms and Microsoft as two of the 'Magnificent 7' stocks to buy ahead of earnings. High-profile investor Cathie Wood has shown faith in Zuckerberg and Meta by investing $19M in shares, while simultaneously dumping Palantir and Tesla stock. Meta's third quarter results exceeded expectations, reporting $40.59 Billion in revenue, yet shares dipped amid rising AI infrastructure costs. While Meta's stocks have increased by 500% in two years, analysts expect more growth following impressive gains. Reviewing these factors, the valuation of Meta makes no sense, due to future costs related to AI. Meta Platform's strong Q3 results and growth potential underscore its position among the top-ranked growth stocks.
Meta Platforms Stocks News Analytics from Wed, 09 Oct 2024 07:00:00 GMT to Sat, 02 Nov 2024 13:00:00 GMT -
Rating 2
- Innovation 7
- Information 8
- Rumor -2
