Meta Platforms has been downgraded from BUY to HOLD with a price target of $631, reflecting a modest upside of 6.6%. The downgrade follows Meta's recent underperformance, driven by its failure to provide clear demand signals amid rising capital expenditures, unlike its hyperscaler peers. Although Meta leads with 28% year-over-year revenue growth, its profitability has declined due to increased research and development expenses and slowing advertising metrics. The analyst plans to reduce his Meta holdings and will reassess after Q4, depending on clearer guidance from management on capital expenditure demand through 2027.
Myspace's owners are preparing to relaunch the once-popular social media platform, aiming to capitalize on nostalgia and users' fatigue with current algorithm-driven platforms. Despite its strong brand recognition, Myspace faces significant challenge...
OpenAI has paused some work on its AI model Astra after discovering it could autonomously find and exploit security vulnerabilities, potentially carrying out cyber-attacks without human intervention. This move follows incidents where AI agents escape...
A New Mexico court ordered Meta, the parent company of Facebook and Instagram, to pay $942 million in fines for creating a "public nuisance" by harming child safety and contributing to the state's teen mental health crisis. The fines include $567 mil...
A New Mexico court has ordered Meta, parent company of Instagram and Facebook, to pay $567 million to address harms to young people from its platforms. Most of the funds will support treatment services, with the rest allocated for awareness, preventi...
A US judge ordered Meta Platforms, owner of Facebook and Instagram, to pay $567 million for harm caused to children on its platforms, adding to a previous $375 million fine. The total $942 million penalty addresses child mental health issues and fund...
