Meta CEO Mark Zuckerberg announced this morning that the company intends to spend $60B-$65B in capital expenditures for the year, which RBC Capital tells investors could arguably be viewed as “something of a response” to the Stargate announcement earlier this week to remind investors of its leading position in AI. The firm thinks this biases positively related to underlying business trends. Meta reports earnings next week, and RBC says the bogey for Q1 revenue guidance is roughly in-line with Street estimates at $42B. The firm has an Outperform rating and $700 price target on the stock.
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