Meta Stock Holds Near $578 as AI Capex Fears Persist

Meta shares closed at $578.19 on July 9 after falling 4.1%, extending a pullback driven by investor anxiety over 2026 AI infrastructure spending now guided as high as $145 billion. The decline follows Zuckerberg’s July 7 admission of slower-than-expected AI agent progress and the late-June decision to raise capex to $125-145 billion while exploring sales of excess compute capacity. Despite the 12-29% drop from peaks, Q1 results showed 33% revenue growth to $56.31 billion and resilient ad momentum, leaving analysts with an $800-plus consensus target and viewing shares as inexpensive at 16-19x forward earnings.