TL:DR No, $FB is not still cool...
How Did Wall Street Get Meta’s Earnings So Wrong?
"Only two analysts, both in Europe, rated Facebook’s parent company a sell before it recorded the biggest-ever drop in market value."
bloomberg.com/news/articles/…
How Did Wall Street Get Meta’s Earnings So Wrong?
"Only two analysts, both in Europe, rated Facebook’s parent company a sell before it recorded the biggest-ever drop in market value."
bloomberg.com/news/articles/…
This is next level wrong:
"How most of Facebook’s 62 analysts—who spend their lives crunching numbers—failed to see such a dismal report coming could be a case study on what you miss when looking at consensus expectations."
"How most of Facebook’s 62 analysts—who spend their lives crunching numbers—failed to see such a dismal report coming could be a case study on what you miss when looking at consensus expectations."
Widely publicized changes to Apple’s iPhone software requiring companies ask permission to gather data on users made it hard to deliver targeted ads.
This move was widely publicized for a year, but was mostly ignored by analysts. It slashed $10 billion from $FB's 2022 sales.
This move was widely publicized for a year, but was mostly ignored by analysts. It slashed $10 billion from $FB's 2022 sales.
The resulting Faceplant not only revealed $FB's fastest growth is behind it, raises questions about their model -- are they more like Yahoo than Google? Is their Corporate Governance need to be fixed? Are they overly reliant on advertising?
ritholtz.com/2022/02/facepl…
ritholtz.com/2022/02/facepl…
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