Meta earnings should show continued ad dominance — but a new Apple battle looms

Not a change to the iOS system that makes it harder for Meta META, +1.74% to glean personal information about consumers — as Apple AAPL, +0.07% did in 2021, costing Meta billions of dollars in potential advertising revenue — but a head-on collision in mixed-reality headsets that had one Meta worker telling Bloomberg News that the Facebook parent company is in the “afraid of Apple stage.”

Hostile tensions between two of Silicon Valley’s biggest companies are nothing new. Apple historically has chastised Meta for its privacy policies while Meta has dinged the iPhone maker for its closed product ecosystem. Meta’s ad growth is expected to spike 25% year-over-year in the third quarter and through 2024 on “rising Reels engagement and monetization,” TD Cowen analyst John Blackledge said in an Oct. 12 note. Blackledge is also looking closely at Meta’s cost outlook for 2024 as the company wraps up a self-ascribed “year of efficiency.”

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