Mark Zuckerberg's giant middle finger to Wall Street backfired for Meta. Welcome to the 'biggest two week pivot' analysts have ever seen.
through the first quarter of 2023.The company lowered its 2023 expense guidance by $2 billion, a change that came after only two weeks of issuing the previous higher forecast.
"Meta and Zuckerberg heard loud and clear the massively negative investor reaction to perceived lack of cost discipline," Mark Mahaney, an internet analyst at ISI Evercore, wrote in a note to investors on Wednesday. Zuckerberg was the poster-child for the concept of the mercurial tech founder who made decisions quickly and broke things, but created massive wealth for venture capitalists and Wall Street for many years. Few investors questioned his calls until Meta shares started plummeting in the past year, wiping out almost $1 trillion in market value.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Wall Street Journal: Meta is planning significant layoffs | CNN BusinessFacebook-parent Meta is planning the first significant layoffs in its history as the company grapples with a shrinking business and fears of a looming recession, according to the Wall Street Journal.
Lire la suite »
Meta shares pop 7% as Wall Street rallies around layoffsShares of Meta jumped Wednesday after the company announced it will lay off more than 11,000 employees.
Lire la suite »
Wall Street Journal: Mark Zuckerberg tells employees layoffs coming Wednesday | CNN BusinessMeta CEO Mark Zuckerberg told company executives that major layoffs at the tech giant will begin on Wednesday morning, the Wall Street Journal reported. meta facebook alabamanewsnetwork
Lire la suite »
Here are Wednesday's biggest analyst calls: Apple, Tesla, AMC, Kroger, Disney, Robinhood & moreAnalyst call of the day for CNBCPro subscribers: Bernstein reiterates Apple as market perform and says Apple consensus estimates are “too high.” Subscribe to see the analyst calls of the day curated by CNBC Pro.
Lire la suite »
Stock Market Today: Bitcoin Sells Off; Dow Futures DeclineCrypto losses deepened over fears that liquidity challenges at exchange FTX could spread. Bitcoin is near its lowest level in two years.
Lire la suite »
Goldman Sachs CEO David Solomon surprises Wall Street with coveted ‘partner’ promotionsGoldman Sachs CEO David Solomon surprises Wall Street with coveted 'partner' promotions
Lire la suite »