The company is continuing to invest in the Metaverse, which is not expected to see material revenue until 2030.
and WhatsApp, to underperform from hold, the analysts pointed to rising costs, as the company continues to invest in the Metaverse, as well as slowing revenue growth. Material revenue from the Metaverse is not expected to be realized until 2030.
“Whether Meta wins against TikTok or not, we believe its [return on invested capital] will be attacked regularly by competitors until one day Meta won’t win. The structural valuation problem, as we see it, is that Meta doesn’t own its content or its distribution,”
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