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Barchart
Mohit Oberoi

Meta Stock Falls Below $700 as Mark Zuckerberg Doubles Down on AI Spending: Time to Buy the Dip?

Mark Zuckerberg Susan Li Meta Jason Helfstein Metaverse Google Microsoft Oppenheimer

Yesterday, Oct. 29, was a significant day for markets, marked by a flurry of tech earnings and the conclusion of the Federal Reserve’s October meeting, where the U.S. central bank cut rates by 25 basis points as expected.

Tech earnings were also strong, with Meta Platforms (META), Microsoft (MSFT), and Alphabet (GOOG) (GOOGL) all posting stellar revenue growth, which was at least in part driven by artificial intelligence (AI). However, the post-earnings price action today tells us that markets are not taking the ever-rising AI capex kindly, and both Meta and Microsoft are falling today after they upped their capex guidance. 

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