Austria's Supreme Court on Thursday ordered Meta to provide an online privacy rights campaigner with access to all of his personal data within two weeks, after a marathon 11-year legal battle.
The artificial intelligence trade is one that's become integral to the U.S.
Meta Platforms (META) has faced challenges in the past. Its stock has plummeted over 30% on four separate occasions in less than two months in recent years, leading to billions in lost market value and reversing substantial gains in a single downturn.
Austria's Supreme Court has ruled that Meta's personalized advertising model is unlawful and ordered the company to provide users across the European Union with complete access to their personal data within 14 days of any request, in a final and directly enforceable decision that sets a binding legal precedent across the bloc.
This year, one of the better performers among the Magnificent 7 had been Meta Platforms Inc.
Meta Platforms (META) delivered another strong dual beat in Q3, with accelerated YoY revenue growth of 26.2% and robust EPS expansion. Q3 saw significant cash from operations growth to $30B, supporting aggressive AI and virtual reality investments while maintaining a fortress financial position. META trades at attractive current and forward multiples, with no premium to historical averages despite expanding AI exposure and positive earnings revisions.
Meta says that it has paused its program to share Meta Horizon OS, the mixed reality operating system that powers its Quest headsets, with third-party device makers. The program was part of the company's metaverse push — the idea behind the program was to create a “new generation of hardware” that would give VR users their pick of devices when it came to engaging with Meta's digital worlds.
The Facebook parent company headlines Rosenblatt's list of top first-half stock picks, but Applied Optoelectronics and Magnite shares also make the cut with major upside projected.
Shares of Meta Platforms Inc. (NASDAQ: META) gained 1.14% over the past five trading sessions after gaining 2.03% the five prior.
In October 2023, I published an article on this site urging you to buy Meta Platforms (NASDAQ:META) ahead of earnings.
Meta Platforms' massive AI push aims to drive long-term growth, but near-term earnings face pressure from high spending.
Mark Zuckerberg declared 2023 the “year of efficiency” after Meta Platforms (NASDAQ:META) shed 21,000 employees and tightened spending.