Meta Platforms (META) stock dropped 11% after its Q3 report, with revenue hitting $51.24 billion, up 26% YoY. The company incurred a $15.93 billion tax charge but exceeded earnings estimates. Investors were concerned about plans to boost AI spending. CEO Mark Zuckerberg defended the move, emphasizing the need to prepare for potential superintelligence breakthroughs. Meta’s Reality Labs reported a $4.4 billion loss. Despite the dip, analysts predict a 15.6% annual revenue growth rate. Analysts recommend “Strong Buy” for META stock, with a target price of $872. META stock trades at 22.8x forward earnings.

Read more at Barchart: ‘Aggressive’ Spending Spooks Meta Platforms Investors. Should You Buy the Dip in META Stock?