Meta Platforms Shares Drop 9% After Missing Earnings and Raising Capex
Meta Platforms (NASDAQ:META) shares fell nearly 9% in early trading on July 30, 2026, after the company reported a Q2 earnings per share miss of 13%, driven by surging costs that rose 55%. Despite beating revenue expectations at $60.8 billion and raising its capex range to $135–$145 billion for 2026, Meta’s guidance fell short of Wall Street's forecasts, leading ten major firms to cut their price targets overnight. The selloff was exacerbated by concerns over the company’s ability to monetize AI investments beyond advertising and its growing capital expenditures. In contrast, Microsoft (NASDAQ:MSFT) saw a 15% jump in shares after delivering clearer guidance on AI monetization. NVIDIA (NASDAQ:NVDA), which benefits from hyperscaler spending, rose slightly while Alphabet's GOOGL stock declined.
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Topics: AI Investment Earnings Miss Meta Platforms Stock Selloff