Meta stock is currently trading 15.94% lower than its all-time high. Despite the recent 10% drop on earnings result day, Meta stock is still trading 12.29% higher than its 4Q2023 earnings release on February 1st. This indicates that the recent pessimism hasn't completely erased the gains it generated since the 4Q2023 earnings results. 1Q2024 Earnings Result: Revenue: USD36.46 billion vs. USD36.16 billion expected EPS: USD4.71 vs. USD4.32 expected Source: Reuters Source: Meta's Earnings Slides The 10% drop in stock price on earnings day were due to: Weaker earnings forecast: 2Q2024 total revenue is expected to fall within the range of $36.5 billion to $39 billion, with a midpoint of $37.8 billion. This misses the street estimate of $38.3 billion. Additionally, management anticipates a
Will You Bottom Meta at $400?
In contrast to Tesla, Meta's first-quarter performance greatly exceeded expectations but provided a pessimistic outlook. During the earnings call, Mark Zuckerberg spoke more about the outlook for AI, continuing to increase investments in artificial intelligence, and expecting further increases next year. Meta lost 15% in the extended market. ---------------- Will Meta continue to fall after the plunge? What's your target price for Meta? Will you bottom Meta at $400?
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