JPMorgan upgrades Meta stock and compares its new AI app to ChatGPT
JPMorgan Chase upgraded Meta Platforms (META) from Neutral to Overweight in September, raising its price target to $820. This follows the launch of Meta’s Muse AI app on Sept. 8, which quickly climbed to No. 1 on Apple's U.S. App Store and attracted significant attention. The firm sees potential for Muse to become one of the most widely used consumer AI apps since ChatGPT due to its simplicity, free tier model, and Meta’s vast user base across social platforms like Facebook, Instagram, and WhatsApp. Early data shows 2.5 million U.S. downloads in the first 12 days and around 557,000 daily active users. Meta has faced investor skepticism over its AI spending amid rising capital expenditures and declining net income for Q2 2026. However, JPMorgan’s positive outlook reflects growing confidence that Muse could drive long-term value.
Topics: Consumer Technology Investor Sentiment JPMorgan Meta Muse AI app