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Stockreport

Meta's stock plunges 15% on ‘aggressive' AI spending plans [CNN]

Alphabet Inc. - Class C Capital Stock (GOOG)  More Company Research Source: CNN
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value. The selloff, which started in after-hours trade Wednesday, came as investors looked beyond bumper first-quarter earnings to focus on the huge costs to the company of building an AI future Meta ( META ) is competing head-to-head with Microsoft and Google to unlock the enormous potential of AI. While the payoffs could be huge, the company's most recent earnings underscored that building the best tools is costly and will take time. Meta, which also owns WhatsApp and Instagram, said Wednesday that first-quarter profit more than doubled year-on-year, while revenue was up 27%. But an increase of as much as $5 billion in projected AI investments — and the likelihood of further increases in subsequent years — made shareholders uneasy. “The language around spending plans has become bolder once more, and this could be what's spooking markets,” Sophie Lund-Yates, lead equity analyst [Read more]
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Stockreport

Meta's stock plunges 15% on ‘aggressive' AI spending plans [CNN]

Alphabet Inc. - Class C Capital Stock  (GOOG) 
More Company Research Source: CNN
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value. The selloff, which started in after-hours trade Wednesday, came as investors looked beyond bumper first-quarter earnings to focus on the huge costs to the company of building an AI future Meta ( META ) is competing head-to-head with Microsoft and Google to unlock the enormous potential of AI. While the payoffs could be huge, the company's most recent earnings underscored that building the best tools is costly and will take time. Meta, which also owns WhatsApp and Instagram, said Wednesday that first-quarter profit more than doubled year-on-year, while revenue was up 27%. But an increase of as much as $5 billion in projected AI investments — and the likelihood of further increases in subsequent years — made shareholders uneasy. “The language around spending plans has become bolder once more, and this could be what's spooking markets,” Sophie Lund-Yates, lead equity analyst [Read more]
IMPACT SNAPSHOT
EVENT TIME:
GOOG
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS