Meta shares are on track to close above their 200-day moving average for three consecutive days, the longest such streak since February, according to Yahoo Finance AlphaSpace data. The stock has climbed 23% from its late-June lows, outpacing the S&P 500’s 3% gain over the same period. JPMorgan analyst Doug Anmuth attributed the rally to improved sentiment around Meta’s AI strategy, the launch of external AI monetization, and signs of an AI product cycle. The advance comes ahead of Meta’s second-quarter earnings report, which investors fear could bring another eye-popping AI capex number after the company raised its full-year 2026 capex forecast to a range of $64 billion to $72 billion, up from $60 billion to $65 billion, and free cash flow dropped to $10.3 billion from $12.5 billion a year earlier. Anmuth noted that higher 2027 capex would be better received with improving monetization, and a rising share price could renew discussions around a potential equity raise.
Meta Platforms Inc.Improved sentiment around AI strategy, external AI monetization launch, and AI product cycle signs.
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