Meta stock falls eighteen percent from October peak after earnings disappointment

Meta's stock has fallen about 18% from its peak in October 2026 after a disappointing earnings report. The company reported third-quarter revenue of $64.6 billion, which was 26% higher than the same period last year. That beat Wall Street's expectations, but profits dropped sharply. Net income fell nearly 38% compared to the previous quarter, and Meta recorded negative free cash flow for the first time since it went public in 2012. Investors are worried about the company's heavy spending on artificial intelligence technology. Some analysts think the lower share price is a good chance to buy. Others say the stock looks weak and does not offer enough improvement. Wall Street's average price target for the stock is around $848.