At least 16 brokerages cut their forecasts for Meta* assets after the company reported its first quarterly earnings decline, underscoring the challenges facing U.S. companies and fueling fears of a looming recession. Shares of Meta* fell 6% to $159.8 on the first day after the report was released. The company’s market capitalization topped $1 trillion last year, but fell to $900 billion in December.
Analysts admit that in 2023 Meta* may return to strong positive momentum, but they are skeptical about the metaverse’s strategic plans; they can be seriously disrupted by regulatory measures; relevant agencies around the world are actively tightening their policies against large tech companies. . Another negative factor is the actions of the US Federal Trade Commission (FTC), which, through Justice, is trying to prevent the acquisition of Within Unlimited, a company that develops applications for virtual reality.
* It is included in the list of public associations and religious organizations, regarding which the court made a final decision to dissolve or ban the activity, based on No.