Meta hit 3.2 billion daily active users in Q2 2024, with WhatsApp reaching 100 million monthly U.S. users. RSI at 60.88 indicates upward solid momentum for META ahead of its October earnings. Meta shows strong support at $590, with a bullish target of $675 based on key Fibonacci levels, indicating potential for a breakout.
Meta Platforms has billions of people using its popular social media platforms every day. Business has been booming over the past couple of years and its growth rate has been solidly above 20% for multiple quarters.
Meta Platforms (NASDAQ:META) stock has been outpacing most of its Magnificent Seven peers over the past two years, now up more than 224%.
Meta Platforms (META) reported earnings 30 days ago. What's next for the stock?
The Nasdaq 100 closed lower by around 0.1% during Thursday's session. Investors, meanwhile, focused on some notable insider trades.
Meta is my portfolio's newest holding, and I'm working to bring up my weighting in the months ahead. The company's revenue and diluted EPS soared in the second quarter, and there is a path for robust growth in the years ahead. META boasts a net cash position of nearly $40 billion.
Several enterprises are tapping Meta's Llama family of models, including AT&T, DoorDash, Goldman Sachs, Niantic, Zoom and KPMG.
Meta says its AI models have been downloaded nearly 350 million times since last year. That's more than 10 times the downloads compared to this time in 2023, the social media giant said Thursday (Aug. 29), with more than 20 million downloads in the last month.
Meta's Llama artificial intelligence models are being used by companies including Goldman Sachs and AT&T for business functions like customer service, document review and computer code generation, the social media giant said in a statement on Thursday.
Meta Platforms is planning a mixed reality device that resembles a bulky pair of glasses, the Information reported on Wednesday, citing two employees from the social media giant.
In Brian C. Keegan's telling, the loss of tools like CrowdTangle and Pushshift—which allow researchers to study user behavior and how information is shared on social media—is like particle physicists one day waking up to find out they can no longer access the Large Hadron Collider.
Meta Platforms faces a fine of up to $3.62 million after losing a lawsuit by Brazilian department store chain Havan that accused the social media company of accepting paid advertisements that fraudulently use the retailer's name to deceive consumers.