 leads the pack after the shopping holiday bonanza from Thanksgiving day and Cyber Monday. Online expenditure rose 7.3 percent annually to $13.3 billion on Cyber Monday as total holiday spending for Thanksgiving){kind=link}
Meta Platforms (META) leads the pack after the shopping holiday bonanza from Thanksgiving Day to Cyber Monday. Online expenditure rose 7.3 per cent annually to $13.3 billion on Cyber Monday as total holiday spending for Thanksgiving through Cyber Monday reached an annual $41.1 billion according to analysts. These analysts are highly confident that Meta will stay afloat in digital advertising revenue generation in the future.
Biggest Gainer
The holiday shopping spree has ensured that consumer spending is not too weak, with digital ads significantly benefiting from the same. Retailers, an important category in which both Meta and Google have their advertisements, were likely to boost the ad estimates for the fourth quarter of the year. Meta’s ad spend increased by 20% year-over-year, further confirming the dominance of Meta in the space of digital advertising.
This momentum sent Meta’s stock to an all-time high of $617.78 during early trading on Wednesday before settling at $613.78. The company’s year-to-date gains have risen to 73%, following a 194% rise in 2023.
AI and Nuclear Energy
Meta’s ambitions are more than just advertising as the company’s CEO Mark Zuckerberg makes significant investments in artificial intelligence. The company is also looking into nuclear energy in its sustainability and energy reliability initiatives.
Meta, on Tuesday, announced it will partner with nuclear energy developers to produce1-4 gigawatts of nuclear power by the early 2030s. The initiative will support energy demands from its AI-driven data centers and surrounding communities.
This will make Meta, like Amazon, Microsoft, and Google, take advantage of nuclear energy to continue growing its computational and data requirements. “Nuclear energy can help provide firm, baseload power to support the growth of electric grids,” Meta said in a blog post, committing the company to a long-term focus on sustainable energy solutions.
Stock Market Leadership
Meta has continued to strengthen its position as a leader in internet content. It holds an IBD Composite Rating of 98, near perfect, better than all of its peers in a group of 69.
Read More: Meta Removes Over 2 Million Accounts Involved in Scams
Resilience shines through; the stock rebounded strongly from its November slide after political tensions set in. The shares improved after Mark Zuckerberg made contact.
With its capacity to take advantage of holiday spending, combined with bold strides into AI and nuclear energy, Meta has solidified its position as the transformative force in tech and advertising. The company looks well set to continue to ride this trajectory, coupled with strong stock performance and innovative forward-thinking initiatives.
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