Meta-owned social media platform Threads is reportedly surpassing X in terms of mobile usage. Threads now has more daily usage on mobile devices than Elon Musk's X, TechCrunch reported Sunday (Jan. 18), citing data from Similarweb.
Meta continues to spend massive amounts of money on AI-related capital expenditures. The company is already leveraging AI to boost engagement and improve ad capabilities.
Broadcom has the largest market cap of any stock not already in the $2 trillion club. Analysts expect Meta Platforms to soar 32% higher over the next 12 months.
Australia's social media ban has been in the spotlight as governments globally consider implementing similar policies. "This is a global issue, and governments everywhere are under pressure to respond," Daisy Greenwell, co-founder of U.K.-based grassroots organization Smartphone Free Childhood, told CNBC.
The market is worried about Meta Platforms' spending, but the stock trades at a reasonable valuation. The market seems to assume Adobe will be disrupted by generative AI, but that hasn't panned out yet.
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