Meta Platforms (META) has plunged more than 22% from its all-time high, wiping out over $220 billion in market capitalization.
The stock has plunged from its peak of $796 to $613, a decline of more than 22%. The single biggest reason for the fall is Meta's 2026 budget. In January 2026, Mark Zuckerberg announced a capital expenditure (Capex) forecast of $115 billion to $135 billion for the year. For comparison, Meta spent about $39 billion in 2024 and $72 billion in 2025.
Investors are terrified that Meta’s infrastructure spending is tripling in just two years. While this money goes toward GPUs (like the new Meta-AMD deal) and data centers, Wall Street is worried that the "return on investment" (ROI) won't show up for a decade. Similar to Meta, Amazon, Microsoft, and Alphabet (Google) have also experienced a broader tech sell-off after announcing massive AI spending plans.
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