That’s much easier for gamers and metaverse denizens to afford than Apple’s $3,499 VR headset.Īnd if that’s too pricey, Meta Platforms’ Quest 2 headset will only set you back $299.99. Recently, Meta Platforms doubled down on its metaverse focus when the company introduced its Quest 3 VR headset. They feel Meta Platforms’ integration of generative AI into its products/services isn’t yet “ priced into shares.” Meta Platforms Keeps the VR Experience Affordable They believe that these investments “can deliver incremental usage across its users, creators, and advertisers.”Īnalysts at UBS seem to agree with this idea. The Citi analysts are bullish about Meta Platforms’ investments in AI. They said “Reels is experiencing greater advertiser adoption given its Lo-Fi approach to ads, newer ad products, and continued engagement growth.” The Citi analysts observed growth in Reels ad loads. (Reels is a short-form video-sharing platform that’s similar to TikTok.) Repeatedly, the company raises the bar in important technology niches.įor example, analysts with Citi have been tracking Facebook’s advertisement loads for the company’s Reels platform. Yet, Meta Platforms can continue to deliver value to its shareholders and customers. META stock doubled during the year’s first half, but this might bother some value-focused investors. There’s no denying it: the market likes Meta Platforms in 2023. META Stock Could Move Higher on Reels and AI Tech This, however, doesn’t mean the company can’t continue to push the boundaries of VR, AI and more.Īfter all is said and done, you might be convinced to add to your share position in Meta Platforms even if the price feels too high right now. You may have already heard about Meta Platforms laying off part of its staff. So, before you cash in your Meta Platforms shares for a profit, consider holding on for more potential gains. These include social media, virtual reality and artificial intelligence. Please See Disclaimer Read more investing news on Meta Platforms (NASDAQ: META) stock, investors can get exposure to multiple technology niche markets. Meta Stock Drops As Investors Prepare For Results, Competitor Reports Show Advertising Slowdown The stock of Meta Platforms recently fell after the company released a mixed third-quarter results report in which it beat revenue forecasts but missed on profits and issued a revenue warning. Additionally, trading at a discount is the following ETFs: (IXP), (SOCL), (METV), (FDN), (KNGS), and (PBS). Even though XLC, VOX, and FCOM have the highest weightings towards META, they are not the only funds that experience losses at the beginning of the year. META’s year-to-date performance is -58.9% as a result, XLC is -35.8% VOX is down 36.9% and FCOM is down 36.8%. The sector has been under pressure all year, and Thursday’s loss is a part of a broader year-to-date decline. VOX is down 1.5% in premarket trading, while FCOM is down 2.1%. With 11.78% and 10.92%, respectively, VOX and FCOM are the next and third-heaviest holders of META after XLC. The largest holding in the stock of any ETF on the Street is held by XLC, which has a 17.25% weighting in META. Major route in outlook due to Meta stock plunge The Communication Services Select Sector SPDR Fund ( NYSEARCA:XLC), Vanguard Communication Services ETF ( NYSEARCA:VOX), and Fidelity MSCI Communication Services Index ETF are the three ETFs with the greatest portfolio exposures to META ( NYSEARCA:FCOM). After declaring a profit shortfall and informing Wall Street of upcoming sales issues, the company has generated more than 20%.ĭespite the fact that 332 different ETFs throughout the own world META, the three communication-focused funds that have the biggest exposures to the social media behemoth, have dropped along with META’s decline. ( NASDAQ:META), a mega-cap company, falls sharply. META stock to $100.46 as of 11:04 AM EDT.Įxchange-traded funds with a focus on communication services are expected to start Thursday’s session in the red as Meta Platforms Inc.
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