Meta's strong core growth and low valuation make the reaction to possible Muse dilution look excessive. Revenue grew 26%; North America grew nearly 33% where Muse, Meta One and advanced ads rolled out, a playbook Meta will extend as compute grows. Shares trade at a low-to-mid-teens multiple of ex-Muse/FRL earnings, or ~19x EPS fully capitalizing those investments. A hypothetical $100B raise with zero return might cost 6% of equity value in the most punitive case; Muse's ROI is still a bet. x.com  … Show more

Meta's Muse could bring in more cash flow than any product it has launched before, making shares in the $600s a sweet bet. Muse should create immense margin expansion, synergies, new revenue streams and services. Scaling capex is shrinking net income even as revenue keeps growing. x.com 

Meta's spending to support Muse and its frontier models is likely to precede monetization, leaving the stock vulnerable to high initial 2027 expense and capex guidance. A beat-and-raise quarter is expected, but the stock could react poorly to that guidance after its recent strong performance. x.com 

Meta's valuation is compelling again because its operating-cash-flow multiple has fallen while revenue growth accelerated over the past year. It trades at 12x operating cash flow, close to 10x 2027 operating cash flow. Its unique position should make it one of the AI era's biggest winners, with Muse becoming its best asset in the long run. The equity raise's timing was unwelcome, but that is now behind it. x.com 

Meta's growth and earnings make its valuation appealing. It trades at 17x 2027 estimates with 17% EPS and 22% revenue growth. Its $140 billion EBITDA should make it worth more than Anthropic, which has none, though that comparison could be wrong. If distribution is king, Meta Muse could benefit from Meta's 3.64 billion daily active users, according to GuruFocus News. x.com  x.com  x.com 

Meta looks unattractive because its fines, capital raises and AI capex make the math ugly. The stock could trade back to the $500s, while hyperscalers probably have to make those raises with equity down 15-25%. Muse looks like a fad and average users may not need AI agents, matching LogicalThesis's view. x.com  x.com  x.com 

Muse monetization appears on pace to scale faster than previous product cycles, improving Meta's long-term outlook. Mizuho raised its price target to $950 from $750, while noting shares may struggle to work meaningfully into a potential early-2027 equity raise and face some cost overhang. x.com 

Meta's 26% growth and still-unmonetized Muse make the dip buyable. ZeroHedge estimates $250 billion of AI capex next year; Meta would not spend that much unless Muse continues to unlock a massive opportunity in personal AI agents. x.com  x.com 

Meta's hundreds-of-gigawatts compute ambition looks hard to justify against the revenue a much smaller build might support. If Anthropic can generate over $70B in annualized revenue on 3GW or less, including training, hundreds of gigawatts is not a serious figure. Earlier Muse monetization than in past product cycles also makes little sense without direct integration into ad recommendations or an immediate shift in user behavior. x.com 

Meta's growth and potential Muse monetization look out of step with a forward multiple below 20x. Revenue grew 26% and earnings beat estimates; Muse has exceeded expectations, and Zuckerberg says it could generate more ARPU than Instagram and Facebook. Shares are down 15% this month despite those developments. x.com