Meta stock hits all-time high as Wall Street bets on AI vision

Published On Sep 26, 2024, 10:29 AM

Meta stock reached an all-time high of $577 following the unveiling of its latest AI model, Llama 3.2, at the Meta Connect 2024 event. CEO Mark Zuckerberg emphasized Meta's AI aspirations, positioning it competitively against other tech giants like Microsoft and Google. Analysts predict substantial growth potential for Meta, with several raising price targets for the stock, reflecting positive sentiment among nearly 90% of analysts covering the company. Despite challenges in monetization and significant losses in its Reality Labs division, Meta's AI advancements have notably boosted its stock price, which has increased nearly 91% over the past year.