Squawk on the Street Cramer's Morning Take: Meta 10/31/24
Oct 31, 2024
Jim Cramer and Jeff Marks break down the latest movements in a major tech stock, focusing on Meta's strategic shift toward AI amid rising market concerns. They analyze the balance between its recent revenue successes and the pressures of capital expenditures. The discussion includes a closer look at Meta's investment strategies and how they impact stock performance, alongside insights from the latest quarterly results and comparisons with peers in the tech sector.
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Meta Stock Dip
- Meta's stock is down despite positive growth and earnings.
- Investors are worried about capital expenditures on AI chips.
Zuckerberg's AI Focus
- Mark Zuckerberg is investing heavily in AI to compete with ChatGPT.
- He aims to make Meta AI the top consumer GPT by leveraging Facebook and Instagram's data.
Meta Buying Advice
- Cramer suggests buying Meta stock tomorrow, not today.
- He anticipates Apple might have a shortfall, making Meta a better buy.