Meta Platforms Inc. has faced a challenging year with shares trading flat and a year-to-date loss of -14.62%. Former Director of Global Public Policy, Sarah Wynn-Williams is scheduled to testify regarding claims that the company jeopardized U.S. national security by briefing Chinese officials on AI technologies. Jefferies has reduced its price target for META while maintaining a 'Buy' rating, citing economic downturns affecting decision-making in tech. Additionally, Meta plans a $50 billion stock buyback despite facing potential fines from the European Commission for antitrust violations.
earlier this month, former Director of Global Public Policy Sarah Wynn-Williams testified, alleging that Meta's actions have jeopardized U.S. national security by briefing Chinese officials on AI.
Jefferies reduced its price target for the widely watched META stock from $810 to $725, noting early signs of economic softness impacting tech deal decisions.
Despite the challenges, Meta authorized a $50 billion buyback and is venturing into the AI space, marking a significant pivot in its business strategy.
The European Commission's findings that Meta breached the Digital Markets Act could lead to a fine of up to $1 billion, adding to its regulatory woes.
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