Dan Ives Is Pounding the Table on Meta Platforms Despite a ‘Capex Super Cycle.’ Should You Buy META Stock Here?

Meta Platforms (META) — the parent of Facebook, Instagram, WhatsApp, and Threads — is a digital empire that mints its wealth from advertising across its sprawling social universe. Yet for investors, Meta has always been a bit of a tempestuous companion — thrilling on the climb, unnerving on the dips. After a stellar rally heading into the third quarter of 2025, META stock has promptly surrendered its gains, up just 1% in 2025 as Wall Street balks at its spending ambitions.

To be fair, the spending is colossal. Meta is steering headfirst into a capital expenditure (capex) surge, projecting $70 billion to $72 billion in 2025 and hinting that 2026’s bill will be “notably larger,” likely vaulting past the $100 billion mark. That’s a level where cash flows start sweating and debt enters the chat — a reality that spooked investors even though the Q3 report itself was not structurally weak. The discomfort is being amplified by broader anxieties around stubborn interest rates, frothy AI valuations, and a market searching for direction.