Kevin Simpson, Capital Wealth Planning founder and CIO, joins CNBC's "Halftime Report" to explain why he's buying Meta.
There's no evidence that the passwords were accessed by anyone, but Meta still broke European privacy rules.
Meta was punished Friday with a fine worth more than $100 million from the social media giant's European Union privacy regulator over a security lapse involving passwords for Facebook users.
Meta, the parent company of Facebook, has been fined €91 million by Ireland's Data Protection Commission (DPC) over a serious password-security breach that affected 36 million Facebook and Instagram users in the European Economic Area (EEA).
Reset your clocks: Meta has been hit with yet another privacy penalty in Europe. On Friday Ireland's Data Protection Commission (DPC) announced a reprimand and a €91 million fine — around $101.5M at current exchange rates — after concluding a multi-year investigation into a 2019 security breach by Facebook's parent company.
The lead European Union privacy regulator fined social media giant Meta 91 million euros ($101.5 million) on Friday for inadvertently storing some users' passwords without protection or encryption.
JPMorgan and Jefferies analysts said Meta's (META) AI and metaverse ambitions make it a top pick after the tech giant's Connect event keynote Wednesday, where Meta unveiled several new products and AI features.
The editorial warns that Facebook's changes after the 2020 election may have swayed the conclusions of a prominent study.
Mark Zuckerberg's Meta Connect keynote impressed Wall Street, boosting Meta's stock on Wednesday. Zuckerberg unveiled new Meta Quest headsets, AI features, and Orion holographic glasses.
Although Meta Platforms' expanding AI prowess is noteworthy, higher investments in developing AI models, services and infrastructure are a concern for investors.
This spread will return more than 33% even if META stock declines 5% from our entry point.
Investors who followed my Meta $127 buy call from January 2023 will be doing very nicely indeed seeing a near 350% increase. However, the social media giant is potentially looking for another sizable move in its share price, with $775 as a next stop. I am Justin Ward, a future pricing analyst for major financial markets and author.