Benzinga - by Zaheer Anwari, Benzinga Contributor.
- Meta has recently achieved a significant milestones in their market capitalization, crossing the $1 trillion mark for the first time since 2021.
- Despite facing a sharp 77% decline in stock value, Meta recovered to achieve a record 346% increase in stock price.
- Meta is poised to announce its fiscal fourth-quarter earnings on February 1, with projections around $4.98.
Under the guidance of Mark Zuckerberg, the company has made significant investments in AI. One notable move was the purchase of graphics cards from Nvidia, showcasing Meta's dedication to enhancing its technological capabilities, specifically in AI and reflects the growing importance of AI in the tech industry.
Meta's achievement becomes even more notable when considering the challenges it successfully overcame. Despite a steep decline of 77% between September 2021 and November 2022, they demonstrated exceptional resilience and strategic prowess. Not only did the company recover from this downturn, but it also went on to rise to new heights. In order to reach its current record highs, Meta's stock had to climb an astonishing 346%.
With estimates around $4.98, Meta is set to report its fiscal fourth-quarter earnings on February 1, drawing keen interest from the market. These earnings are highly anticipated for the insights they will provide into the company's current financial health and future trajectory.
Despite the progress Meta has made, it faces a notable obstacle. The stock must surpass the significant resistance level of $400, which holds symbolic importance in market sentiment and investor trust. Breaking through this barrier would indicate a strong upward trend for Meta's stock and potentially lead to increased growth.
After the closing bell on Thursday, January 25, the stock closed at $393.18, trading up by 0.64%.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
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