Mega-cap stocks turned down in premarket trading after Meta’s Q3 results; Alphabet, NVIDIA Corp slid over 2%.
Meta's earnings per share increased 168% in the third quarter, but that sort of growth could be harder to come by next year as the company ramps spending. Not only will the Meta of 2024 be facing tougher comparisons to a period when it got leaner, but the company will also be racking up higher bills for its capital expenditures in a potentially rocky ad market.
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