Meta Gains on Anthropic in AI Race: Guggenheim
Guggenheim raises Meta’s target to $850, citing AI progress and Muse’s potential, but warns monetization and heavy AI spending remain risks.
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UBS analyst Stephen Ju maintains Meta Platforms (NASDAQ:META) with a Buy and raises the price target from $715 to $884.
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Guggenheim raises Meta’s target to $850, citing AI progress and Muse’s potential, but warns monetization and heavy AI spending remain risks.
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Alphabet is positioned as a strong investment opportunity ahead of its Q3 earnings report on Oct. 28. The company benefits from its dominant Google Search business (68% of revenue), strong growth in Google Cloud (82% revenue increase driven by AI demand), and the rapid success of its Gemini AI app which reached 1 billion monthly users. While heavy capital expenditure on AI infrastructure raises some investor concerns, the company's early leadership in AI and strong revenue growth prospects make it a solid long-term buy regardless of short-term earnings reactions.
The Nasdaq 100 fell 1% by midday Wednesday after September CPI topped forecasts, pushing Treasury yields and rate-hike bets higher.