Meta Platforms (META) stock records its longest winning streak, with shares gaining for 15 consecutive days. Catalysts host Seana Smith is joined by Brad Smith to outline what investors need to know about the tech giant's performance.
Meta, the parent company of Facebook, Instagram, and WhatsApp, has begun a new round of layoffs as part of its ongoing effort to streamline operations and ramp up investments in artificial intelligence.
Internal Meta memo shows the company is ramping up hiring of engineers as it cuts thousands of jobs. Meta wants to "expedite recruiting" of machine learning engineers in the coming weeks, per the memo.
I am bullish on Meta Platforms due to its strong growth levers, especially accelerated AI growth, and double-digit undervaluation. META's financial strength, consistent top and bottom-line growth, and double-digit margins highlight its resilience and attractiveness as an investment. META's competitive edge lies in its massive user base, network effect, continuous innovation, and effective responses to emerging threats like TikTok.
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Paul Meeks, Harvest Portfolio Management CIO, joins 'Squawk Box' to discuss Meta's record run, state of the AI tech race, and more.
Artificial intelligence (AI) investing is still one of the prevailing themes in the markets. Investors need to have some exposure to this trend, as it has the potential to be a generation-defining technology with a similar magnitude of impact as the internet.
Artificial intelligence (AI) continues to garner lots of attention. And for good reason.
Meta's stock has surged over 12%, surpassing my $683 price target, driven by strong revenue and operating income growth in its FoA business segment from a combination of Core and GenAI initiatives. Plus, Reality Labs' revenue grew 301% YoY, fueled by demand for Ray-Ban Meta AI glasses, which I believe signals optimism for AI glasses as the next computing platform. Despite projected slower revenue growth in 2025 along with Meta's plans to grow capex by over 60% YoY in 2025, investors are not concerned.
Meta Platforms (META 0.35%) has been one of the hottest growth stocks to own in recent years. Since the beginning of 2023, it has skyrocketed by around 490%, turning a $10,000 investment into nearly $59,000.
Meta plans to cut thousands of jobs to focus on AI investment and efficiency. Mark Zuckerberg targets low performers, part of a broader industry move toward leaner operations.
Over the last couple of years, businesses across every industry sector have become overwhelmingly enamored with artificial intelligence (AI). In particular, graphics processing units have become all the rage given their advanced computing power -- which is needed to train generative AI programs such as large language models.