Meta Platforms ( (META) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Meta Platforms, the U.S. tech giant, is making headlines with its bold stance against European regulatory pressures and its strategic moves in the AI sector. Despite facing potential daily fines from the EU for non-compliance with the Digital Markets Act, Meta is refusing to alter its advertising model, which requires EU users to either consent to personal data usage for personalized ads or pay for an ad-free experience. This defiance could lead to further antitrust charges, but Meta remains steadfast, criticizing the EU’s regulations as overly restrictive and detrimental to business. Meanwhile, Meta’s stock continues to be a strong buy, with analysts maintaining a positive outlook and a consensus price target that suggests a slight upside.
In the realm of artificial intelligence, Meta is aggressively expanding its capabilities by poaching top talent and investing in new research facilities. The company recently hired Ruoming Pang from Apple with a lucrative $200 million compensation package, highlighting the intense competition for AI expertise. Additionally, Meta has opened a new research lab in Cambridge, UK, focusing on advancing AI-powered audio for its future smart glasses. These strategic moves underscore Meta’s commitment to leading the AI space and its ambition to revolutionize wearable technology, with its smart glasses already seeing significant market success.