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Meta Falls Again
Description
Meta’s ($META@US) share price fell more than 5 percent Wednesday and dropped an additional 20 percent in off-hours trading. Meta’s advertising revenue is the lowest it’s been due to a decrease in ad spending across the industry and changes in how Apple ($AAPL@US) tracks users' data on its iPhone. Meta’s Reality Labs Unit, which is developing the company’s technology and software for the metaverse, reported an operating loss of $3.7 billion, which the company expects to grow next year. Among other tech stocks seeing poor performance this week are Alphabet ($GOOGL@US), Microsoft ($MSFT@US), and Snap ($SNAP@US).
Keywords & Tags
#tech stocks
#alphabet
#apple
#iphone
#app
#social media
#Snap
#Instagram
#Insta
#entertainment
#apps
#IoT
#misinformation
#machine learning
#dance
#algorithm
#Metaverse
#video sharing
#Meta
#Advertising revenue
#videos
#short video apps
#live streaming
#information
#Meta’s Shares Dropped
#share price fell
#ad spending
#Meta’s Reality Labs Unit
#loss of 3.7 billion
#poor performance
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