** Meta Platforms shares slide ~13% premarket after the social media firm disappoints investors with forecasts of higher expenses and lighter-than-expected revenue
** META set to shed ~$170 bln in market cap
** Co raises 2024 total expense forecast to $96-$99 bln, from $94-$99 bln, to support investments in new AI products and the computing infrastructure needed to support them
** Stock up 39% YTD following a 194% surge in 2023
** Avg rating on the stock is "buy" and median PT is $529.99, up considerably from $398.50 at the start of the year
** Alphabet and Microsoft down 2.8% and 1.6%, respectively, ahead of their results due after the bell on Thursday
** Amazon down 2.2%, while social media stocks Snap
and Pinterest down 3.8%-4.8%
** Nvidia , however, up 0.8%
(Reporting by Sruthi Shankar in Bengaluru)
((sruthi.shankar@thomsonreuters.com;))
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