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.
Meta Platforms Inc's (NASDAQ:META, ETR:FB2A, SWX:FB) shares look set to open higher in New York trading after CEO Mark Zuckerberg unveiled new augmented reality (AR) glasses and updates at the company's annual developer conference. The glasses, named Orion, can project digital images, games, and communications into the real world.
Meta stock was headed higher early Thursday, as investors digested the AI and metaverse plans from yesterday's Connect event.
Meta Platforms Inc. META continues to excite investors and tech enthusiasts with its AI and AR advancements.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Meta Platforms remains a "Buy" due to strong earnings, new AI features, and Ray-Ban smart glasses, which could drive future growth. META's Q3 earnings showed a 22% YoY revenue increase, driven by higher ad prices and impressions, with a 58% jump in operating income. New AI features and Ray-Ban glasses are expected to boost user engagement and monetization, potentially leading to higher EPS and revenue growth.
Since Mark Zuckerberg rebranded Facebook to Meta Platforms (NASDAQ: META) on October 28, 2021, the resulting company's success has continued to demonstrate why this was such a good decision, including in terms of its earnings, as well as the price of its stocks.
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D.A. Davidson's Gil Luria sees the timing ripe for mass market adoption of AI and Spatial Computing, with Meta poised to benefit from these key trends.