VR has been 'pretty big disappointment' for Meta, says Mizuho's Lloyd Walmsley

Now, the big tech story of the day is Meta. The stock's higher on a report that said the company is considering cutting the Metaverse Group's budget by as much as 30%. The stock has been under pressure lately on concerns about its massive spending and latest earnings.Meta raised the low end of total expenses for the year to $116 billion. Joining me now is Mike Pru, uh, research director at Forester, and Lloyd Walmsley, senior research analyst for Missouo. Lloyd, uh, just to clarify here, this isn't a a cons ...