META CHART STOCK FULL

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). This model considers these estimate changes and provides a simple, actionable rating system. Investors can capitalize on this by using the Zacks Rank. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. These revisions typically reflect the latest short-term business trends, which can change frequently.

Investors should also note any recent changes to analyst estimates for Meta Platforms.

META CHART STOCK FULL

Our most recent consensus estimate is calling for quarterly revenue of $33.41 billion, up 20.55% from the year-ago period.įor the full year, our Zacks Consensus Estimates are projecting earnings of $13.11 per share and revenue of $132.74 billion, which would represent changes of +33.37% and +13.84%, respectively, from the prior year. This would mark year-over-year growth of 115.24%. In that report, analysts expect Meta Platforms to post earnings of $3.53 per share. Wall Street will be looking for positivity from Meta Platforms as it approaches its next earnings report date. Heading into today, shares of the social media company had lost 4% over the past month, lagging the Computer and Technology sector's gain of 3.06% and the S&P 500's gain of 0.58% in that time. At the same time, the Dow lost 0.57%, and the tech-heavy Nasdaq lost 1.06%. This change was narrower than the S&P 500's daily loss of 0.7%. As AI language models continue to grow in sophistication, companies like Meta, OpenAI, Google, and Apple are pushing the boundaries of AI capabilities to meet the demands of businesses in various industries.In the latest trading session, Meta Platforms (META) closed at $299.17, marking a -0.33% move from the previous day. While Meta has not provided an official comment regarding its new AI model, the development of this more powerful system signifies the continuous race among tech giants to provide cutting-edge AI solutions. Apple has developed its own framework, called ‘Ajax’, to create large language models and has reportedly been testing a chatbot that some engineers refer to as ‘Apple GPT’. The company is said to be working on AI offerings similar to OpenAI’s ChatGPT and Google’s Bard. Reports from Bloomberg News indicate that Apple is also venturing into the AI market. This move aligns with the increasing demand from businesses and enterprises for enhanced AI capabilities and streamlined business processes, following the success of OpenAI’s ChatGPT since its launch last year. Meta plans to commence training the new AI system, referred to as a large language model, in early 2024. However, Meta’s new AI system will surpass the capabilities of Llama 2 and serve as a stronger competitor in the generative AI market. It is distributed through Microsoft’s cloud Azure services to compete with OpenAI’s ChatGPT and Google’s Bard.

The current commercial version, Llama 2, is an open-source AI language model launched in July by Meta. This new model, which is still subject to potential changes, is expected to assist other companies in building services that can generate sophisticated text, analysis, and other outputs. Meta, the parent company of Facebook, is reportedly developing a new artificial intelligence (AI) model that aims to be several times more powerful than its existing AI language model, Llama 2.

Meta chart stock