Meta's stock took a hit after the tech giant revealed plans to significantly increase its capital expenditure, sparking concerns among investors about the company's financial health. The move comes as Meta continues to grapple with intense competition in the social media space and regulatory scrutiny over its handling of user data. Meanwhile, rival Alphabet, the parent company of Google, reported a surge in its cloud computing business, outpacing growth at Amazon Web Services and Microsoft Azure. As the tech landscape continues to shift, investors are increasingly scrutinizing the financials of major players, with Meta's stock drop serving as a stark reminder of the challenges facing the industry's largest players.
Meta stock drops on capex increase while Alphabet’s cloud business grows faster than rivals Amazon and Microsoft
