The Meta chief executive testified for a third day in a landmark antitrust trial accusing his company of quashing competition through acquisitions.
For investors in Magnificent Seven stock Meta Platforms NASDAQ: META, recent changes in analysts' price targets haven't brought much cheer. Many analysts have been dropping their price targets on this powerful company since the beginning of April.
President Donald Trump's import tariffs have been the big subject for investors in recent weeks, with any new announcement guiding the market's direction. And technology stocks such as the "Magnificent Seven" have been particularly vulnerable to the news since they rely a great deal on international production of raw materials and finished goods.
Testimony that Instagram was ‘better' seems to bolster allegations Meta used ‘buy or bury' tactic to snap up rivals
The latest trading day saw Meta Platforms (META) settling at $521.52, representing a -1.87% change from its previous close.
Social media titan Mark Zuckerberg testified for a second day Tuesday in a landmark US antitrust trial, defending his conglomerate Meta against accusations it took over Instagram and WhatsApp to devour budding competitors.
The Meta Platforms CEO testified that his company had legitimate business reasons for acquiring Instagram more than a decade ago.
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) CEO Mark Zuckerberg testified on Tuesday that Facebook acquired Instagram because it had developed a better camera, a key admission in a high-stakes antitrust trial that could determine the future of the company's ownership of Instagram and WhatsApp. Under questioning from the Federal Trade Commission, Zuckerberg acknowledged that his company was conducting a "build vs.
Sometimes you're forced to break up, even if you don't want to. That's the sort of the predicament Meta Platforms Inc. could find itself in — but for investors, it's not necessarily a bad thing.
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Meta could be forced to sell Instagram and WhatsApp if it loses a landmark trial that just started in the US.
Social media titan Mark Zuckerberg took the stand for a second day Tuesday in a landmark US antitrust trial where his conglomerate Meta is accused of taking over Instagram and WhatsApp before they could become competitors.