META(#FACEBOOK) weekly special report based On 1 Lot Calculation:
ARTIFICIAL INTELIGENCE (AI):
- AI: CHATGPT SPARKS AI COMPETITION AMONGST MAJOR TECH FIRMS. According to reports, only Microsoft, Alphabet and Meta are set to invest $90B into AI technology development.
- META (FACEBOOK) IN AI WORLD: Meta’s ChatGPT like model, “Large Language Model Meta AI” known as LLAMA, is set to be improved, with the company stating it will develop a more powerful model in 2024. According to reports, the model is undergoing continuing development, the LLAMA 2 model is expected to be better than the most recent GTP-4 model.
META (FACEBOOK): EVENTS AND ANALYSIS
- EVENT: Q3 EARNINGS REPORT (CONFIRMED OCTOBER 25th 2023, AFTERMARKET): Meta is set to report its third quarter earnings. Revenue could increase around 20% Year-on-Year if analysts forecast materialize. Net income is forecast to rise 113% Year-on-Year. The company is also expected to present potential artificial intelligence development plans.
- META HAS EXHIBITED STRONG VOLATILITY AFTER EARNINGS REPORTS IN THE ERA OF ARTIFICIAL INTELLIGENCE:
Earnings Period |
Percentage Change in price |
Q2 23' |
+8.05% |
Q1 23' |
+15.31% |
Q4 22' |
+28.10% |
SOURCE: MT4 PLATFORM
**PLEASE NOTES: PREVIOUS PERFORMANCE IS NOT A GURANTEE OF FUTURE PERFORMANCE**
- MORGAN STANLEY STATES META COULD DELIVER $20 EARNINGS PER SHARE IN 2024, WHICH WOULD BE A 100% INCREASE ON THE 2022 EPS: Morgan Stanley has issued a statement outlining that they believe Meta can generate $20 of earnings per share in 2024 as a result of successful monetization of its products.
OTHER ANALYSIS:
- STOCK PRICE ACTION: THE STOCK HAS HAD AN ALL TIME HIGH OF $384.24. Meta was last trading around $305, and if full recovery follows recent all- time highs, the stock could see an upside of around ~26.00%. However, the stock price may continue to decline.
- ANALYST OPINION: JP Morgan is targeting $425, Barclays forecasts $410, Evercore forecasts $435 while Jefferies targets $400. The Bloomberg consensus price target is $374.25 a share.
META(#FACEBOOK), October 3, 2023
Current Price: 305.00
Meta |
Weekly |
Trend direction |
|
384 |
|
345 |
|
330 |
|
280 |
|
270 |
|
260 |
Example of calculation based on weekly trend direction for 1 Lot1
Meta (Facebook) |
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Pivot Points |
||||||
Profit or loss in $ |
79,000.00 |
40,000.00 |
25,000.00 |
-25,000.00 |
-35,000.00 |
-45,000.00 |
Profit or loss in €2 |
73,738.40 |
37,335.90 |
23,334.94 |
-23,334.94 |
-32,668.91 |
-42,002.88 |
Profit or loss in £2 |
63,367.54 |
32,084.83 |
20,053.02 |
-20,053.02 |
-28,074.23 |
-36,095.44 |
Profit or loss in C$2 |
107,282.40 |
54,320.20 |
33,950.13 |
-33,950.13 |
-47,530.18 |
-61,110.23 |
- 1.00 lot is equivalent of 1000 units
- Calculations for exchange rate used as of 13:30h (GMT+1) 03/10/2023
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