StoneX analyst Mark Zgutowicz reiterated a Hold rating on Meta Platforms Inc. (NASDAQ: META).
“META’s +11% move yesterday can be attributed to continued strong downloads of Muse, its largely free AI agent service, and perhaps tangibles forthcoming at Meta Connect beginning Sep. 23rd.
Muse is a credible AI agent and the right competitive product direction for Meta’s consumer and small business base.
However, we view its launch more as reducing product-demand risk, not resolving the AI-spending/ROIC debate we’ve discussed frequently.
In this regard, we see Muse’s materially higher infrastructure-intensity adding to, not relieving pressure from the ROIC debate. We reiterate our Hold rating.”
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