“That is rare,” analysts at Evercorse ISI said, referring to the positive developments. “And stocks react to rare.”
“After Snap’s disaster, the fact that Meta wasn’t quite so bad has brought encouragement to tech mega-caps,” said Fiona Cincotta, analyst at City Index. The forecast reflects savings from the 11,000 job cuts it announced in November, plans for lower data-center construction expenses and moves to drop non-crucial projects.
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