Wedbush Issues META Hold Rating As Tech Shares Slide

Meta shares slipped below six hundred dollars on Thursday, hitting a daily low of 597 dollars. The stock dropped 3.36 percent as tech companies faced fresh market scrutiny over heavy spending on artificial intelligence data centers and infrastructure. Alphabet shares also fell nearly 7 percent, even after strong earnings, due to rising capital expenditure plans.

Following the recent price correction, financial services firm Wedbush Securities issued a hold rating for Meta. Analyst Ygal Arounian set a price target of 671 dollars per share. This target suggests a potential return of about ten percent from current trading levels, offering solid gains for traders who stay patient while the market finds a bottom.

Wall Street confidence in the social media giant remains relatively high despite ongoing spending concerns. CEO Mark Zuckerberg recently addressed the speed of artificial intelligence development, noting that building out the required infrastructure brings ongoing challenges. Market participants will watch upcoming earnings reports and capital spending updates closely to see how these big technology investments impact future stock momentum.