Meta Hit With Rare Sell Rating at BNP Paribas on Revenue Doubts [BNN Bloomberg (Canada)]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: BNN Bloomberg
BNP Paribas Exane's Stefan Slowinski said that unlike its Big Tech peers, Meta lacks new revenue streams to replenish its coffers as it looks to spend massively on artificial intelligence features. Slowinski, who has been bearish on stocks that typically enjoy near-unanimous buy ratings, said he prefers others in the fast growing generative AI space, including Alphabet Inc., Microsoft Corp., Salesforce Inc. and Oracle Corp. Artificial intelligence “can help businesses increase efficiency and cut costs. But for those developing the technology, the AI battle is proving costly,” he wrote in a note dated Thursday. The Facebook-owner spooked investors last week when it revealed that it will spend billions of dollars more than expected this year — driven by investments in AI. The strategic pivot seemed to have caught some investors by surprise because the company had embraced aggressive cost-cutting in recent quarters to boost profit. Slowinski's contrarian calls have found success
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- 2/1/24 - Beat
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- 5/16/24 - Form 144
- 5/16/24 - Form 144
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