Meta Shares Plunge 10.3% to $600 on Capex Jump to $125-145B

Meta Platforms shares plunged 10.3% to $600.42 as Q1 earnings beat was eclipsed by 2026 capex guidance raised to $125-145 billion from $115-135 billion. Pre-earnings focus was on AI spending after 2025's $72.2 billion capex and 8,000 job cuts, with Q1 revenue hitting $56.3 billion versus $55.6 billion expected and Q2 guided at $58-61 billion. Strong 33% ad growth and 3.5 billion daily users offered support, but capex fears and failed 200-day MA triggered heavy selling from initial 6-7% post-market drops.