As Microsoft, Meta Slide After Earnings Calls, Jim Cramer Says 'Hyperscalers Are Not Warning About Worsening AI Losses'
Portfolio Pulse from Benzinga Neuro
Microsoft and Meta's stocks fell after earnings calls, but Jim Cramer argues that hyperscalers are thriving with AI advancements, not facing worsening AI losses. Despite the stock drops, analysts remain optimistic about AI's impact on these companies.
October 31, 2024 | 11:27 am
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POSITIVE IMPACT
Meta's stock dropped 2.69% in premarket after earnings, but analysts increased the price target to $650, citing strong AI advancements and robust Q3 results.
Meta's stock decline is countered by strong Q3 results and AI advancements, leading analysts to raise the price target. This suggests potential for stock recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Microsoft's stock fell 3.95% in premarket after earnings, but the company is thriving with AI advancements, expecting its AI business to reach $10 billion in revenue.
Despite the stock drop, Microsoft's AI segment is the fastest-growing in its history, expected to reach $10 billion in revenue. This positive outlook on AI could lead to a rebound in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90