Meta (META) being coy about future AI spending isn’t what the market wants to hear as overspending fears rattle tech stocks.
Yet that’s what the market got — and Meta received another earnings day stock plunge in return
The move is likely to keep dark clouds over the stock through the summer. “We aren’t providing a specific outlook for 2027 capex at this time,” Meta CFO Susan Li told analysts on a late-Wednesday earnings call. Meta did raise the bottom end of its 2026 capital expenditure target, tightening the full-year spending range to $135 billion to $145 billion (up from $125 billion to $145 billion). But specifics about 2027 capital expenditures were nonexistent.
Li added, “Infrastructure planning remains highly dynamic. Even this year, there are a range of outcomes embedded in our outlook.” Meta stock plunged 10% in early trading on Thursday. The drop brings Meta’s stock down close to 30% year to date.