Social media giant Meta Platforms (NASDAQ:META) has grown remarkably, soaring approximately 490% in under two years. However, Meta recently saw its most significant market cap decline since 2022, shedding around $200 billion following its Q1 results. The stock received downward revisions in target prices across Wall Street. The crucial question now is whether to buy or sell. Personally, I view this as an opportunity to invest in the stock based on its AI-based growth trajectory. I believe it can keep rising.
Weak Revenue Outlook, Higher AI Spend Disappoint Despite Q1 EPS Beat
Meta’s Q1 adjusted earnings of $4.71 per share handily beat the consensus estimate of $4.32 per share. Also, earnings more than doubled year-over-year compared to earnings of $2.20 per share in the prior-year period. Revenues jumped 27% year-over-year to $36.5 billion, meeting consensus estimates by $36.2 billion.
The revenue jump was fueled by a 27% rise in…
