Stock's at $660, down from $796 in August. Down 18% since earnings dropped because of the insane AI spending plans. They're dumping $70+ billion into AI this year, and 2026 will be even bigger. Meanwhile, they just laid off 1,500 people from Reality Labs - remember the Metaverse? That thing they burned billions on? Yeah, it's basically dead now. Lost over $4 billion on it last quarter alone. So they wasted money on VR nobody wanted, and now they're chasing AI like everyone else. Feels like Meta's been out of fresh ideas for years, just jumping from one trend to the next hoping something sticks.
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