Meta ad business grows 26% as AI spending worries investors

Meta's core advertising business grew 26%, but investors are weighing lower margins, unclear 2027 spending guidance and potential share dilution. Analyst Michael Nathanson values the core business at about $900 per share and says it is too early to count on Muse for additional upside.

• Meta's ad business grew 26%
• Investors worry about unclear 2027 spending guidance
• Analyst values Meta's core business at about $900 per share
• Muse seen as too early to drive additional upside