Tag: meta share price

Apple Leads $383 Billion Tech Rout in Reversal From Group’s 2023 Rally
4Jan By adminNo Comments
Technology

Apple Leads $383 Billion Tech Rout in Reversal From Group’s 2023 Rally

[ad_1] The largest technology stocks that lifted the broader market last year are having a less-rosy start to 2024. The so-called Magnificent Seven, which includes Apple Inc., Amazon.com Inc., Alphabet Inc., Microsoft Corp., Meta Platforms Inc., Tesla Inc. and Nvidia Corp., slipped for the last four trading days, the longest losing streak in a month, according to the Bloomberg Magnificent 7 Price Return Index. Shares of Apple, down 4.6% in the time period, lead the slump that's erased $383 billion in market value. The Nasdaq 100 Index has also fallen in the last four trading days.  “We don't know if last year's rally has fully ended, but it is completely normal to expect markets will pull back after a rally like we saw,” said Steve Sosnick, chief strategist at Interactive Brokers Group....
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Zuckerberg’s New Focus Pulls Meta Back From The Brink
3Feb By adminNo Comments
Technology

Zuckerberg’s New Focus Pulls Meta Back From The Brink

[ad_1] Meta Platforms Inc. may have got caught in a downward spiral over the past year, but Mark Zuckerberg seems to be putting it back onto a more fruitful direction, at least for now. Meta's decline in ad revenue for the third straight quarter wasn't as big as expected; there was a $40 billion buyback for shareholders; and daily active users — Meta's “North Star” for years — blew past the psychological 2 billion barrier, according to fourth-quarter earnings it announced on Wednesday night. More important, Chief Executive Officer Mark Zuckerberg replaced much of his usual talk about the still-to-be-realized metaverse with pledges about a new era of “efficiency” for Meta, on the heels of slashing thousands of jobs, and a refocus on artificial intelligence, echoing where other tech ri...
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Meta Shares Soar as Zuckerberg Ushers in ‘Year of Efficiency’
2Feb By adminNo Comments
Technology

Meta Shares Soar as Zuckerberg Ushers in ‘Year of Efficiency’

[ad_1] Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg struck a new tone with investors Wednesday: The social media giant will be leaner, more efficient and more decisive, with a big assist from artificial intelligence.The company's shares gained more than 20% in late trading on fourth-quarter revenue that beat expectations. Zuckerberg, who has spent the past year promising a faraway future in a digital world called the metaverse, on Wednesday was more focused on immediate problems, such as sending users the most relevant videos at the right time, and finally making significant revenue from messaging products. He called 2023 the “Year of Efficiency.” “We're working on flattening our org structure and removing some layers of middle management to make decisions faster, as wel...
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Meta Platforms Plummets 25%; Mark Zuckerberg Plea for ‘Patience’ Falls Flat
28Oct By adminNo Comments
Technology

Meta Platforms Plummets 25%; Mark Zuckerberg Plea for ‘Patience’ Falls Flat

[ad_1] Meta Platforms Inc. plunged 25% Thursday, its biggest one-day drop since February. Meta Platforms Inc. plunged 25% Thursday, its biggest one-day drop since February, after Chief Executive Officer Mark Zuckerberg asked investors for patience with the social-media giant's swelling investments in unproven bets at an already-challenging time for digital-advertising companies. On a call Wednesday after giving a disappointing revenue outlook, Zuckerberg sought to justify Meta's ballooning costs to fund its version of virtual reality, the metaverse, as well as the artificial intelligence fueling major changes to its social networks. Investors, who have already sent the stock down 71% this year, so far aren't buying it. The Facebook parent's market value has collapsed by a whoppin...
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