{"id":107325,"date":"2024-09-26T23:39:14","date_gmt":"2024-09-26T16:39:14","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=107325"},"modified":"2024-09-26T23:39:14","modified_gmt":"2024-09-26T16:39:14","slug":"meta-stock-hits-all-time-high-as-wall-street-bets-on-ai-vision","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=107325","title":{"rendered":"Meta stock hits all-time high as Wall Street bets on AI vision"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>Meta stock (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/META\/\" data-ylk=\"slk:META;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">META<\/a>) traded at a new all-time intraday high Thursday, following a developer event that put its artificial intelligence ambitions on display. Shares rose as high as $577 after market open before edging down 0.7%, or around $564, mid-morning.<\/p>\n<p>At Meta Connect 2024 on Wednesday, CEO Mark Zuckerberg unveiled Meta\u2019s newest AI model, Llama 3.2. The tech giant also revealed its new <a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/all-eyes-are-on-metas-smart-glasses-but-questions-persist-over-its-secretive-ar-project-123202248.html\" data-ylk=\"slk:\u201cOrion\u201d augmented reality glasses;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">\u201cOrion\u201d augmented reality glasses<\/a>, as well as its latest <a data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/metas-ray-ban-glasses-are-about-to-get-a-lot-smarter-185058536.html\" data-ylk=\"slk:Ray Ban smart glasses;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">Ray Ban smart glasses<\/a> and <a data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/meta-debuts-299-quest-3s-mixed-reality-headset-172459924.html\" data-ylk=\"slk:mixed-reality Quest headset;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">mixed-reality Quest headset<\/a>.<\/p>\n<p>Meta has raced to catch up with competitors in the AI space \u2014 fellow Big Tech firms like Microsoft (<a data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/MSFT\/\" data-ylk=\"slk:MSFT;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">MSFT<\/a>) and Google (<a data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/GOOG\/\" data-ylk=\"slk:GOOG;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">GOOG<\/a>, <a data-i13n=\"cpos:7;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/GOOGL\" data-ylk=\"slk:GOOGL;cpos:7;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">GOOGL<\/a>) as well as the startup and AI leader OpenAI. And while it\u2019s not as popular as ChatGPT, Meta claimed in April that its AI has <a data-i13n=\"cpos:8;pos:1\" href=\"https:\/\/techcrunch.com\/2024\/09\/25\/mark-zuckerberg-says-meta-ai-has-nearly-500-million-users\/\" data-ylk=\"slk:an equivalent of 185 million weekly active users;cpos:8;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">an equivalent of 185 million weekly active users<\/a>, close behind ChatGPT\u2019s 200 million.<\/p>\n<p>Meta released an AI model, Llama 3.1, this summer, which it claimed could outperform OpenAI\u2019s models in several areas. Llama 3.2 is another stride forward for Meta as it looks to take on OpenAI and other AI players. It\u2019s Meta\u2019s <a data-i13n=\"cpos:9;pos:1\" href=\"https:\/\/www.theverge.com\/2024\/9\/25\/24253774\/meta-ai-vision-model-llama-3-2-announced\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:first open-source model that can process images, charts, graphs, and text;cpos:9;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">first open-source model that can process images, charts, graphs, and text<\/a>, and it will enable developers using Llama 3.2 to build more complex applications.<\/p>\n<p>The company said Llama 3.2 is competitive with OpenAI\u2019s GPT4o-mini and outperforms Google\u2019s AI model Gemma by some metrics. And its AI assistant available on Instagram, Messenger, WhatsApp, and Facebook can now speak in the voices of celebrities including Awkwafina, Dame Judi Dench, John Cena, Keegan-Michael Key, and Kristen Bell.<\/p>\n<p>Zuckerberg said Meta had \u201creached an inflection point in the industry\u201d in which its AI model, Llama, is \u201cstarting to become something of an industry standard.\u201d<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 640px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:67%\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"Mark Zuckerberg smiles while speaking at the Meta Connect conference Wednesday, Sept. 25, 2024, in Menlo Park, Calif. (AP Photo\/Godofredo A. V\u00e1squez)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/KH0NJsyoXZiwtgl5u1Mw7A--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-09\/c28bcbf0-7c0f-11ef-87fd-e105fe32ea3e\"\/><img decoding=\"async\" alt=\"Mark Zuckerberg smiles while speaking at the Meta Connect conference Wednesday, Sept. 25, 2024, in Menlo Park, Calif. (AP Photo\/Godofredo A. V\u00e1squez)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/KH0NJsyoXZiwtgl5u1Mw7A--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-09\/c28bcbf0-7c0f-11ef-87fd-e105fe32ea3e\" class=\"caas-img\"\/><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">Mark Zuckerberg smiles while speaking at the Meta Connect conference Wednesday, Sept. 25, 2024, in Menlo Park, Calif. (AP Photo\/Godofredo A. V\u00e1squez)<span class=\"caption-credit\"> (ASSOCIATED PRESS)<\/span><\/figcaption><\/p>\n<\/figure>\n<p>Analysts contend that Meta is well-positioned among its competitors. \u201cWe believe Meta Connect reflected Meta\u2019s ambitions to be one of the leading AI companies and to shape the industry,\u201d wrote JPMorgan analyst Doug Anmuth in a note to investors Thursday morning.<\/p>\n<p>\u201cMark Zuckerberg showcased Meta&#8217;s AI future at Meta Connect leaving us more bullish on Meta&#8217;s consumer &amp; enterprise AI opportunities,\u201d wrote Jefferies analysts. \u201cOn the enterprise, Llama is becoming a serious contender and we see momentum building with its new multimodal capabilities.\u201d<\/p>\n<p>Bank of America analysts on Thursday raised its price target on the stock to $630. JPMorgan expects Meta shares to rise even higher, to $640, while Jefferies reiterated its price target of $600. The average Wall Street forecast for Meta&#8217;s stock price over the next 12 months is a bit lower at $583, according to Bloomberg consensus estimates. Some 88% of Wall Street analysts covering the stock recommend buying it.<\/p>\n<p><button class=\"link caas-button readmore-button-finance collapse-button readmore-button-class\" data-ylk=\"elm:readmore;slk:Story continues\"><span class=\"readmoreButtonText\">Story continues<\/span><\/button><\/p>\n<p>But it may take a while for Meta to reap the full benefits of its AI innovations. Jefferies analysts noted a \u201cpotential multi-year lag between investments and revenue\u201d but said they are &#8220;confident in Meta&#8217;s proven ability to successfully scale &amp; monetize new products.&#8221;<\/p>\n<p>Meanwhile, <a data-i13n=\"cpos:10;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/all-eyes-are-on-metas-smart-glasses-but-questions-persist-over-its-secretive-ar-project-123202248.html\" data-ylk=\"slk:Meta\u2019s costly Reality Labs division;cpos:10;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">Meta\u2019s costly Reality Labs division<\/a>, which works on its metaverse products, continues to lose the company billions of dollars. The team\u2019s hefty spending has cost the company $50 billion so far, and JPMorgan analysts project Reality Labs will lose Meta another $23 billion in 2025.<\/p>\n<p>Meta may not have fully monetized its AI advancements just yet, but its moves in the AI space have certainly boosted its stock. Meta is part of the &#8220;Magnificent Seven&#8221; Big Tech stocks, which have rallied to unprecedented price levels over the past year. Meta stock is up by nearly 91% over the last year, including over 60% in 2024.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 275px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:39%\"><a class=\"link\" href=\"https:\/\/stockstory.org\/high-quality\/top-6-to-buy-this-week?partner=yahoo&amp;utm_source=yahoo&amp;utm_medium=banner&amp;utm_campaign=top6\" data-ylk=\"\"><img decoding=\"async\" class=\"caas-img caas-lazy\" alt=\"StockStory aims to help individual investors beat the market.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/JHx0p_cWLo9zq0nQX2Tolg--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTM3Nw--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-07\/17752130-4b4a-11ef-bff9-fd72468bde0c\"\/><img decoding=\"async\" alt=\"StockStory aims to help individual investors beat the market.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/JHx0p_cWLo9zq0nQX2Tolg--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTM3Nw--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2024-07\/17752130-4b4a-11ef-bff9-fd72468bde0c\" class=\"caas-img\"\/><\/a><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">StockStory aims to help individual investors beat the market.<\/figcaption><\/p>\n<\/figure>\n<p><em>Laura Bratton is a reporter for Yahoo Finance.<\/em><\/p>\n<p><a data-i13n=\"cpos:11;pos:1\" href=\"https:\/\/finance.yahoo.com\/tech\" data-ylk=\"slk:Click here for the latest technology news that will impact the stock market;cpos:11;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Click here for the latest technology news that will impact the stock market<\/strong><\/a><\/p>\n<p><a data-i13n=\"cpos:12;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/\" data-ylk=\"slk:Read the latest financial and business news from Yahoo Finance;cpos:12;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/meta-stock-hits-all-time-high-as-wall-street-bets-on-ai-vision-142944019.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meta stock (META) traded at a new all-time intraday high Thursday, following a developer event that put its artificial intelligence ambitions on display. Shares rose as high as $577 after &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=107325\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-107325","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/107325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=107325"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/107325\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=107325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=107325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=107325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}