- Meta's 50-day moving average rose to $630.87 on Oct. 6, edging above its 200-day moving average of $629.25, forming a golden cross.
- Shares closed at $738.88 on Oct. 6 and rallied almost 18% over the past month after Meta introduced the Muse personal AI agent on Sept. 8.
- Wells Fargo raised its Meta price target to $1,000 from $796 as Muse quickly became the most popular free new app in Apple's App Store.
- Past Meta golden crosses produced mixed results, and the June 2025 signal was followed by a decline of about 15% over the following year.
- Shares fell 2.79% on Oct. 8 after Cequence found Muse reached over half of its studied customers within two weeks without identifying itself as an AI agent.
- Analysts project Q3 revenue growth of 24% to 25% year over year and expect Meta to raise its 2026 capex outlook by $5 billion to $10 billion from the current $130 billion to $145 billion range.
Quotes
“Investors had been skeptical of the AI spending from Meta. Muse was the first sign of tangible returns on that spend.”