Meta Platforms stock corrected by 23 % following the release of its quarterly results. This move erases last year’s gains. The extend of Meta Platforms’ disappointing results came as a surprise, but after all, the company started a turnaround process last year. In contrast, several other large US technology companies have reported strong results which, most likely, accelerated the sell-off.
Provided the turnaround to metaverse can be executed well and in time without delays, then the present market valuation is well under fair-value. The medium-term outlook in the online advertising market, which is Meta Platforms’ main income stream, is to continue to grow fast.