Meta's core advertising business is significantly outgrowing its biggest competitors even before factoring in the newer businesses it is building. Q3 ad revenue rose 26% year over year, versus 10.6% at Alphabet and 10.9% at Amazon. Back at 19x forward earnings, Meta is the most undervalued Magnificent Seven stock. x.com  x.com 

Meta's ad engine is still growing, and its higher AI spending comes with a stronger revenue outlook. Revenue was $64.6B versus $63.4B expected, with $63.1B in ads; the Q4 guide midpoint of $74.5B beat $73.7B expected. Meta raised only the capex floor to $135B, leaving the $145B ceiling unchanged. The roughly $10B legal charge depressed reported EPS, not ads. Overweight, $1,004 target with 41% upside. x.com  x.com 

Meta's AI spending is weakening conversion of strong ad growth into profit and cash, making its valuation one to approach patiently, not chase. Revenue rose 26%, but operating profit excluding a legal settlement rose only about 11%; $34.9B in quarterly capex exceeded $32.8B in operating cash flow. AI has helped ads, though other factors contributed. One negative free-cash-flow quarter is not an operating failure, but depreciation could squeeze margins unless new revenue covers costs. x.com 

Meta's ad pricing and impressions still support its AI monetization case, but heavy spending has pushed free cash flow negative. Impressions rose about 10% and prices 14% as revenue reached $64.6 billion; FCF was negative $2.12 billion and a $9.89 billion state AG charge hit earnings. Scale only on weakness if comfortable with founder control under the planned non-voting Class C shares. Sustained cash burn would weaken the buyback and valuation case. x.com 

Meta is an attractive investment on its current valuation and strong core business, even though its semiconductor engineering looks unfavorable. Making money as an investor means looking beyond the narrow lens of engineering. 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 

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 looks attractive for its highly profitable, sticky Facebook, Instagram and WhatsApp business, AI momentum and valuation. Muse already has 2.5 million daily active users, and shares trade at 24.4 times trailing earnings. Founder-CEO Mark Zuckerberg retains voting control; his big wins easily outweigh his mistakes, and at 42 he could have another 30 years of execution ahead. x.com  x.com 

Meta's main worry is how its AI buildout is funded, as rising capex crushes free cash flow and increasingly relies on debt, so staying on the sidelines makes sense. Q2 revenue rose 28% to $60.8B, but capex hit $31.08B, guidance rose to $130–145B, long-term debt jumped from $58.7B to $83.7B, and free cash flow fell to $784M from $8.55B. Reality Labs lost $4.62B and Q3 revenue guidance missed consensus at the midpoint. Adjusted EPS may have beaten, and valuation is starting to look more appealing. … Show more

Meta's early AI monetization in its core business makes the long-term upside potentially far greater than the short-term pain from its planned $95B capital raise and possible dilution. Its fair value is $1,100, and the shares are worth holding for years despite short-term moves. If Meta monetizes the infrastructure, upside is massive; even if it does not, the assets still have value. x.com