Sanmeet Deo

You know, Meta's underperforming the market by about 16 and a half percent over the last year.

If Apple's bronze, then Meta might be in the fourth place, although they're spending tons and tons of money on AI.

And, you know, some of the things to watch are going to be, obviously, their CapEx spend.

You know, they had guided for full year, in quarter three, they guided for full year CapEx, 2025 CapEx, to be 70 to 72 billion.

Investors really want to see where that lands.

Also to see if there's any sort of revenue bump

coming from all this spending in AI.

Now we have to parse it out because, you know, Meta has a huge ad business and that's the meat and potatoes of their business.

And AI assists them with that business and enhances it.

So sometimes you can't parse it out as easily with Meta.

So they'll be reporting on the holiday ad spend, where there's still big spend from Chinese exporters like Tim and Sheen.

Did AI improvements, you know, capture more of the...

kind of holiday e-commerce budget, obviously monetization.

And then the thing that sometimes sticks out is the reality lab losses.

It might be a $4 to $5 billion quarterly loss that we'll see in what was their metaverse division and what's going on with that.

Sometimes weighs down on the stock and what people perceive of why do they spend so much money and what's going on with that.

But I'm positive on meta in terms overall, long-term.

Yeah.

Yeah, you know, Microsoft's stock has also underperformed the market by about 8.6% over the last year.

And Microsoft strikes me as one of the more