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What Facebook’s crushing projections mean for social media stocks

Wall Street is asking questions over whether Meta Platforms can keep revenues hot against stiff competition

And just like that, Mark Zuckerberg and Meta Platforms blew up the internet sector.

In reporting fourth-quarter results late 2 February, the Facebook company shocked investors with weak guidance for the March quarter. Facebook said revenue growth could be as low as 3% in the period; in the first quarter a year ago, Facebook’s revenue was up 48%.

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The Man Behind Bank of America’s $13 Billion Tech AgendaExternal link

The Man Behind Bank of America’s $13 Billion Tech Agenda