Meta Platforms, Inc. ($META) Stock Forecast: Down 5.2% Today

What is Meta Platforms, Inc.?

META Platforms, Inc. (NASDAQ: META) experienced a downward movement in the market today amid discussions about its third-quarter performance and the evolving social media landscape.

Why is Meta Platforms, Inc. going down?

META stock is down 5.2% on Oct 31, 2024 18:43

• META's third-quarter results were robust, but there were indications of a potential rise in capital expenditure which raised concerns about future profitability.
• The competitive dynamics between Meta, led by Mark Zuckerberg, and X, led by Elon Musk, in the social media sphere, especially with the emergence of Threads, may have contributed to uncertainties regarding Meta's market position.
• While analysts reacted positively and raised the price target, the decline in stock value during after-hours trading following the Q3 results might have prompted profit-taking by investors.
• Although Meta's AI model, Llama 4, and partnerships with industry giants like NVIDIA and AMD show promise for the future, the current market sentiment appears to be swayed more by short-term factors.

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META Technical Analysis

META News

Meta Is An 'AI Story' Fueled By Llama And Meta AI: Analyst - Meta Platforms ( NASDAQ:META )

Meta Platforms, Inc. META reported its third-quarter results after Wednesday's closing bell, beating analysts' expectations on the top and bottom lines while indicating higher capital spend to come. Analyst reactions are pouring in.

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41658862/meta-is-an-ai-story-fueled-by-llama-and-meta-ai-says-bullish-analyst

Zuckerberg Vs. Musk: Threads Hits 275 Million Monthly Active Users, Averaging 1 Million New Sign-Ups Daily In Social Media Battle Against X - Meta Platforms ( NASDAQ:META )

The billionaire battle between Meta CEO Mark Zuckerberg and X owner Elon Musk for social media supremacy continues to heat up and Meta Platforms META could have another fast-growing platform with Threads, based on the company's third-quarter earnings report.

https://www.benzinga.com/general/social-media/24/10/41657772/musk-thinks-threads-is-boring-but-275-million-monthly-users-signal-zuckerbergs-platform-coul

Apple, Microsoft And 3 Stocks To Watch Heading Into Thursday - Apple ( NASDAQ:AAPL ) , Amazon.com ( NASDAQ:AMZN )

With U.S. stock futures trading lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Amazon.com, Inc. AMZN to report quarterly earnings at $1.14 per share on revenue of $157.2 billion after the closing bell, according to data ...

https://www.benzinga.com/news/earnings/24/10/41647389/apple-microsoft-and-3-stocks-to-watch-heading-into-thursday

Analyst Says 'Don't Let After-Hours Stock Action Fool You' After Meta Slides Post Q3 Results: 'Delivered One Heck Of A Strong Third Quarter' - Meta Platforms ( NASDAQ:META )

Zev Fima has increased the price target for Meta Platforms META to $650 per share. This comes despite a decline in the company's stock during after-hours trading. Fima highlighted the robust third-quarter results, with revenue guidance for the current quarter surpassing expectations.

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41645227/analyst-says-dont-let-after-hours-stock-action-fool-you-after-meta-slides-post-q3-r

Mark Zuckerberg Says Meta's Open-Source Gambit Is Paying Off As Nvidia And AMD Optimize For Llama: 'A Big Deal On Several Fronts' - Meta Platforms ( NASDAQ:META ) , Advanced Micro Devices ( NASDAQ:AMD )

Meta Platforms Inc META CEO Mark Zuckerberg revealed during the company's third quarter 2024 earnings call that Meta is developing its next-generation AI model, Llama 4, using what he described as an unprecedented computing infrastructure of more than 100,000 NVIDIA Corp NVDA H100 GPUs.

https://www.benzinga.com/markets/equities/24/10/41643021/mark-zuckerberg-says-metas-open-source-gambit-is-paying-off-as-nvidia-and-amd-optimize-for-llama

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Meta Platforms, Inc. Price History

31.09.2024 - META Stock was down 5.0%

• Post exceeding Q3 earnings and revenue expectations, Meta saw a significant decrease in its stock price.
• Experts advise against drawing conclusions solely based on after-market stock movements, highlighting the company's strong performance in the third quarter.
• Despite Mark Zuckerberg's update on Meta's collaboration with NVIDIA and AMD to develop its AI model, Llama 4, the stock did not witness a positive impact.
• The market's negative reaction to Meta's stock decline despite favorable financial results could be attributed to general market conditions or uncertainties regarding future growth in the metaverse sector.

31.09.2024 - META Stock was down 5.2%

• META's third-quarter results were robust, but there were indications of a potential rise in capital expenditure which raised concerns about future profitability.
• The competitive dynamics between Meta, led by Mark Zuckerberg, and X, led by Elon Musk, in the social media sphere, especially with the emergence of Threads, may have contributed to uncertainties regarding Meta's market position.
• While analysts reacted positively and raised the price target, the decline in stock value during after-hours trading following the Q3 results might have prompted profit-taking by investors.
• Although Meta's AI model, Llama 4, and partnerships with industry giants like NVIDIA and AMD show promise for the future, the current market sentiment appears to be swayed more by short-term factors.

03.08.2024 - META Stock was down 1.7%

• META's bearish movement today might be attributed to profit-taking by investors after a strong YTD performance.
• The potential investments by Apple and Nvidia in OpenAI, a competitor in the AI landscape, could have raised concerns about increased competition for META in the AI sector.
• The suspension of X (formerly Twitter) in Brazil, owned by Elon Musk, due to a feud with a Brazilian judge over free speech and misinformation, might have created uncertainty in the tech industry, impacting META's stock negatively.
• Despite being among Goldman Sachs' Best Hedge Fund Stock Picks, the overall market sentiment and external factors seem to have influenced META's bearish movement today.

25.06.2024 - META Stock was down 5.2%

• The bearish movement in META's stock today could be attributed to the removal of over 63,000 Nigerian Facebook accounts involved in internet fraud schemes. This could have raised concerns about the platform's security and trustworthiness among investors.
• Despite the positive development of unveiling Llama 3.1, a new AI model to compete with industry giants like OpenAI, the market might have been more influenced by the news of fraudulent activities on the platform.
• Speculation around Mark Zuckerberg's tan lines and its connection to a rumored AR device might have added some uncertainty and distraction, contributing to the bearish sentiment surrounding META's stock.
• Overall, the combination of negative news related to fraudulent activities and distracting rumors about new products could have overshadowed the positive advancements in AI technology, leading to the bearish movement in META's stock today.

05.07.2024 - META Stock was up 5.0%

• META experienced a strong bullish movement today despite a widespread market sell-off.
• The sell-off in technology stocks, including Nvidia, Apple, and other tech giants, was influenced by concerns about a U.S. recession and underwhelming earnings.
• Nvidia's stock dropped over 14% in pre-market trading, contributing to the overall negative sentiment in the tech sector.
• The global market turbulence resulted in a significant decline in chip stocks-linked ETFs, intensifying the downward pressure on technology shares.

07.07.2024 - META Stock was up 5.1%

• META's bullish movement today can be attributed to its strategic positioning in the metaverse market and the positive sentiment surrounding tech stocks.
• The popularity of META's Ray-Bans as a recovery gadget post-surgery could have highlighted the company's innovative products and potential for diversification beyond social media.
• The increasing demand for data center stocks due to AI growth, in which META is involved, could have also positively influenced investor confidence in the company's future prospects.
• Despite facing regulatory challenges in the UK regarding AI content crackdown, META's overall focus on metaverse development and potential market growth could have overshadowed these concerns, driving the stock price higher.

06.07.2024 - META Stock was up 5.1%

• META experienced a strong bullish movement today.
• The announcement of new monetization options for creators in Kenya, including In-Stream Ads on Facebook and Facebook Ads on Reels, likely contributed to the positive market sentiment.
• The antitrust ruling against Google, which highlighted concerns about monopolistic practices in the tech industry, may have indirectly benefited META by diverting attention away from its own regulatory challenges.
• Overall, the market responded positively to META's strategic initiatives and the shifting landscape of competition in the tech industry, leading to the bullish movement in the stock price.

06.07.2024 - META Stock was up 5.2%

• The bullish movement in Meta Platforms' stock can be attributed to the overall positive sentiment in the market, driven by several key factors:
• Deep-pocketed investors adopting a bullish approach towards Meta Platforms, as indicated by significant options activity.
• ARK Invest, led by Cathie Wood, making substantial purchases during a market downturn, including strengthening its positions in Meta Platforms, among other key stocks.
• Meta CEO Mark Zuckerberg's strategic aim to reduce the company's reliance on Apple, potentially signaling positive developments or strategic shifts within the company.
• The unexpected 35% stock plunge in Nvidia due to a chip delay impacting major cloud service providers like Microsoft, Google, and Meta, might have indirectly benefited Meta Platforms as investors sought alternative tech stocks with positive growth prospects.
• The overall tech sector's resilience and notable gains, particularly in companies like Nvidia, could have contributed to the positive momentum in Meta Platforms' stock, reflecting a broader trend of optimism in the tech industry.

02.07.2024 - META Stock was down 5.1%

• The overall market sentiment was bearish due to concerns about macroeconomic factors and a sell-off in global markets, leading to a tumble in Wall Street indices.
• META's stock might have been impacted by the news of considering suspending WhatsApp operations in Nigeria over a data fine, which could potentially affect its revenue and user base.
• Despite Meta unveiling the largest open AI model in history, boosting investor confidence in AI technology, the negative news about potential suspensions in Nigeria overshadowed the positive development.
• The uncertainty surrounding META's future in Nigeria and the regulatory challenges it faces in the region could have contributed to the bearish movement in its stock price today.

06.07.2024 - META Stock was up 5.2%

• META's significant growth today is linked to the market's recovery, particularly within the tech industry, after recent volatility.
• Favorable views on META's potential for growth, noted in discussions about its status as a solid growth stock, likely influenced the stock's upward movement.
• Major tech firms, including META, are enhancing their investments in data centers to bolster the AI field. This trend promises a bright future for META, fostering investor trust and interest in the company's stock.
• The tech-centric Nasdaq 100 and S&P 500 both surged, with particular mentions of META's standout performance among tech stocks, further driving META's strong momentum today.

06.07.2024 - META Stock was up 5.5%

• META experienced a strong bullish movement today, possibly driven by the following factors:
• The announcement of new monetization options for creators in Kenya, such as In-Stream Ads on Facebook and Facebook Ads on Reels, indicating potential revenue growth opportunities for the company.
• Positive sentiment in the tech sector, led by Nvidia's notable gains, which may have spilled over to META as part of the broader market optimism.
• Despite a focus on regulatory scrutiny towards Big Tech companies like Google and Meta, this attention could have reassured investors about the company's competitive position and future prospects.
• Wall Street analysts' positive outlook on Meta Platforms as a good investment could have also contributed to the bullish movement, reflecting confidence in the company's long-term growth potential.

06.07.2024 - META Stock was up 5.6%

• The bullish movement in META's stock price is likely due to the overall market rebound, especially with tech stocks like Meta performing well during the recovery.
• There's a notable increase in options activity, indicating that wealthy investors are showing a positive outlook on Meta Platforms, potentially adding to the stock's upward trend.
• Recent purchases of Meta stock by prominent investor Cathie Wood during the market downturn, alongside other tech investments, could have bolstered investor confidence in the company.
• Major tech companies, including Meta Platforms, are ramping up investments in data centers to support the AI sector, which could be another factor driving investor optimism and pushing up the stock price.