(Bloomberg) — A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.
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Shares of Facebook’s parent were down as much as 19% in after-hours trading and an exchange-traded fund that tracks the tech-heavy Nasdaq 100 Index fell as much as 1% after Meta forecast weaker-than-expected sales in the current quarter while targeting higher capital expenditures.
“While Meta will employ AI in its work, right now it doesn’t seem to be the biggest beneficiary of AI adoption,” said Jack Ablin, chief investment officer at Cresset Wealth Advisors. “The disappointment on the revenue…
