Meta Platforms, Inc. (NASDAQ:META) is one of the Top AI and Technology Stocks to Buy According to Hedge Funds. On December 4, analyst John Blackledge of TD Cowen maintained a “Buy” rating on the company’s stock, retaining the price objective of $810.00. The analyst’s rating is backed by a combination of factors highlighting Meta Platforms, Inc. (NASDAQ:META)’s strategic cost management and potential for earnings growth. TD Cowen Maintains Buy Rating on Meta Platforms (META) Stock One of the main reasons ...

Core Viewpoint - Meta Platforms is shifting its focus from the underperforming Metaverse to AI initiatives, which is seen as a positive move by analysts, potentially leading to a significant increase in share price if executed well [1][4][12]. Financial Performance and Projections - Meta's shares could trade closer to $900 per share this year if the company maintains cost discipline and AI continues to enhance business results, with a bullish case suggesting a rise to $1,000 per share by 2026 [1][3][12]. - Currently, Meta is trading between 20X and 30X forward earnings, and a re-rating closer to 30X could lead to higher share prices [3][9][11]. Strategic Shift - The recent acquisition of AI wearable company Limitless indicates a strategic pivot towards AI, reflecting a commitment to redirect resources from the Metaverse to more promising opportunities [1][4][13]. - Analysts have criticized Meta's previous heavy investments in the Metaverse, suggesting that the company has more potential in AI, which could drive better returns [5][10]. Market Reaction - Following the announcement of spending cuts on the Metaverse, Meta's stock experienced a positive reaction, indicating investor approval of the strategic shift [4][11]. - The market's perception of Meta has been affected by high operating costs, but the recent changes may help restore confidence [9][12].

Meta Platforms (NASDAQ:META) shares are back on the ascent after briefly dipping below 25% from peak levels, thanks in part to a calming of the tech and AI waters, as well as recent news that the firm is looking to trim its metaverse budget by around 30%. ...

so instead of curing cancer and lifting humanity out of poverty, we spent over $70,000,000,000 to build out zuck's metaverse with fewer than 900 daily active users. what went wrong? https://t.co/i2G77ooFbM ...

Meta is scaling back its metaverse spending and redirecting resources toward AI-powered glasses and wearable devices, marking one of the company’s most significant strategic pivots in years. Key Takeaways: Meta is cutting metaverse spending as it shifts focus to AI-powered wearables. VR platforms like Horizon Worlds have stalled, while smart glasses are gaining traction. The pivot aligns with a broader industry move toward lightweight, AI-integrated devices. The shift comes as investor skepticism ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside David Gura, taking you through to that closing bell with a global simulcast. It starts right now.Carol Massar in the radio booth. Alexis Christopher is in today For Tim Stenovec. Katie Greifeld on assignment.Welcome to our audiences across all of our Bloomberg platforms, including our partnership with YouTube. A mixed day on Wall Street. And a reminder, Carol, the last gasp of this earnings season coming after the ...

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 ...

Key Takeaways - Dollar General's stock surged 14% after beating quarterly earnings estimates and raising its full-year forecast, indicating strong demand from cost-conscious consumers across income categories [2][7] - Intel's shares dropped nearly 8% after reports that the company plans to retain its networking and communications unit, reversing earlier speculation about a potential sale [5][6] - GE Vernova's stock advanced close to 5% following an increase in price target by Barclays, driven by strong demand for its energy technology products [3] - Meta Platforms' stock rose 3.4% amid reports of potential budget cuts of up to 30% for its metaverse business, which may include layoffs [4] - Kroger's shares fell 4.6% after reporting lower-than-expected revenue for the third quarter, despite adjusted earnings per share surpassing estimates [6][9] - Marriott International's shares declined 3.5% as executives indicated a more subdued outlook for revenue per available room due to softness in U.S. markets [9]

Market Overview - US stocks closed mixed with the Dow Jones Industrial Average dropping almost 0.1%, the S&P 500 rising 0.1%, and the Nasdaq Composite edging up 0.2% as traders anticipated a potential rate cut by the Federal Reserve in December [1] Federal Reserve Expectations - Wall Street is increasingly convinced that the Federal Reserve will ease monetary policy at its upcoming meeting, with an 89% probability of a rate cut priced in by traders following a weaker-than-expected ADP private employment report [3] - Speculation surrounds Kevin Hassett potentially replacing Jerome Powell as Fed chair, which could lead to a more dovish stance at the Fed, although market skepticism remains regarding Hassett's appointment [4] Labor Market Insights - Jobless claims unexpectedly fell to a three-year low, indicating some strength in the labor market, while November saw the highest corporate layoffs in three years [5] Company Performance - Meta's shares rose over 3% as CEO Mark Zuckerberg plans significant cuts to the metaverse unit, while Nvidia's stock gained over 2% [2] - Salesforce shares surged after the company raised its outlook, exceeding analyst expectations, whereas Snowflake's stock fell due to revenue guidance that did not meet expectations [6]

Sounds like in the last few weeks. Last month, Zuckerberg assembled leadership. They looked at the budget for next year, and Metaverse is where they want to focus their cuts.Bring us your reporting. Yes. So this is an annual thing, right.Looking ahead to 20, 26 budgets. In this case, Mark Zuckerberg has a nice home in Hawaii where they have a series of meetings. Executives come in in the month of November.And to your point, they talk about this year, 10% cuts sort of across the board, looking at all the dif ...