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Why the metaverse is good — even if Meta stock says otherwise: analyst
Brian Sozzi·Anchor, Editor-at-Large
Thu, October 27, 2022 at 7:00 PM
Meta has no choice but to spend billions of dollars on building out the metaverse if it wants to control its future, Goldman Sachs tech analyst Eric Sheridan argues.
"Taking a step back from the recent stock performance (both year to date and in the after-market), we see platform/infrastructure investments by Meta (which started in mid-2020) as both a) continuing to build independence from a volatile range of outcomes from future mobile OS platform changes; and b) aligned with a strategic shift toward short-form video and from the social graph to the interest graph," Sheridan wrote in a note to clients on Thursday.
Nevertheless, Wall Street continues to have a bone to pick with the digital world being created by Mark Zuckerberg dubbed the metaverse.................
https://finance.yahoo.com/news/why-the-m...ccounter=1
Brian Sozzi·Anchor, Editor-at-Large
Thu, October 27, 2022 at 7:00 PM
Meta has no choice but to spend billions of dollars on building out the metaverse if it wants to control its future, Goldman Sachs tech analyst Eric Sheridan argues.
"Taking a step back from the recent stock performance (both year to date and in the after-market), we see platform/infrastructure investments by Meta (which started in mid-2020) as both a) continuing to build independence from a volatile range of outcomes from future mobile OS platform changes; and b) aligned with a strategic shift toward short-form video and from the social graph to the interest graph," Sheridan wrote in a note to clients on Thursday.
Nevertheless, Wall Street continues to have a bone to pick with the digital world being created by Mark Zuckerberg dubbed the metaverse.................
https://finance.yahoo.com/news/why-the-m...ccounter=1
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