Meta Platforms (META, Buy, $550 target) Implications of Hock Tan joining the Board
: Earlier this week, META disclosed in an 8K and blog post that AVGO CEO Hok Tan would join the Board of Directors (along with John Arnold). In this brief note, we discuss:1. META’s ambitions in custom silicon
2. Likely interest in diversifying infrastructure spending beyond NVDA, and
3. Why we think capex guidance and Street estimates are more likely to go higher.
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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