The technology company Meta fell 15% this Thursday on Wall Street in reaction to results below expectations in which it anticipated an increase in capital expenditures in the coming years to develop its Artificial Intelligence (AI) technologies.
The sixth largest US company by capitalization – $1.25 trillion – announced on Wednesday at the close of Wall Street that it had a good start to the year, more than doubling its profits and increasing its turnover by almost 30%, but its outlook for future did not sit well.
The owner of the Facebook, Instagram and WhatsApp applications increased its annual spending forecast to at least $96 billion and said that around a third will go to AI development, while its unprofitable metaverse division will continue. throwing losses.
Meta was not the only technology company on the decline today: the multinational IBM fell by around 10% after yesterday’s closing report of good results derived from the demand for hybrid cloud and AI products for companies, as well as the purchase from the HashiCorp company.
A couple of hours before the stock market closed, both companies moderated their falls, Meta at 10% and IBM at 8%, but both are on track to record their worst day in about two years.
The round of results from big technology companies continues this afternoon with figures from Alphabet, Microsoft and Intel at the close of the session.
The Dow Jones fell 0.98% to 38,085.80 units. The S&P 500, of 500 stocks, fell 0.46% to 5,048.42 points. The technology-heavy Nasdaq fell 0.64% to 15,611.76 units.
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2024-04-27 05:52:08