Meta Platforms is trading at approximately $613as of May 13, 2026 — down roughly 23% from its recent high of $796, despite reporting its fastest revenue growth since 2021 in Q1 2026. The pullback has nothing to do with the business deteriorating. It has everything to do with one number: $125 billionin capital expenditure planned for 2026, an 8% increase from prior guidance that rattled investors who had hoped AI spending would peak.

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