Meta Platforms (META, Buy, $685 target) 2025 Capex guidance pre-announced -- Our Take
This morning CEO Zuckerberg pre-announced 2025 capex spending guidance of $60-$65B and revealed that META will have 1.3M GPUs in place by year-end 2025.Yesterday, we published our detailed analysis of both META’s 2025 capex and total expense guidance which is found HERE, and in which we noted:
“[W]e think a range of $55-60B could be reasonable, and we wouldn’t put a high-end of $65B or even $70B out of range."
In this note, we briefly touch on the implications of the pre-announced guidance, and what we think investors will now be focused on going into next Wednesday’s print.
Facebook is building and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices. The company's products include: Facebook, which enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, which is a place where people can express themselves through photos, videos, and private messaging, and explore their interests in businesses, creators and communities; Messenger and WhatsApp, which are messaging applications; and Oculus, which connects people through its Oculus virtual reality products.
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