Meta (META) stock rose on Monday, leaving intact a record-breaking winning streak for the social media giant.
With Monday’s session, Meta shares have risen for 16 consecutive full sessions, the longest streak of any of the Magnificent Seven stocks. Put another way, Meta stock hasn’t had a down day since Joe Biden was president.
Meta stock has proven resilient to a slew of developments that have shaken other tech stocks in recent weeks. Shares rose nearly 2% the day Chinese start-up DeepSeek sparked a major AI stock sell-off; AI chipmaker Nvidia (NVDA) lost more than $600 billion of market value that day.
Meta employees on Monday were preparing for the beginning of a round of performance-based layoffs that CEO Mark Zuckerberg announced last month. Executives have said they’re aiming to let go of about 5% of the company’s more than 74,000 employees.
Meta dodged the DeepSeek rout in part because the social media company, which generates nearly all of its revenue from advertising, is seen by investors as more of a consumer of AI than a provider of it. It may also have helped that the DeepSeek model that shocked Wall Street was, like Meta’s Llama, open-source.
Shares rose 1% the day after Meta topped fourth-quarter earnings estimates, making it the only Magnificent Seven company to see its shares rise after reporting results. (Nvidia is the only Mag Seven company left to report.) On the company’s earnings call with analysts, executives emphasized that both users and advertisers are increasingly turning to its AI products: Meta’s AI-powered Advantage+ shopping service grew 70% in the quarter and reached a $20 billion annual revenue run rate, according to CFO Susan Li.
Even the company’s plan to increase its AI spending by about 50% this year—the kind of aggressive spending that has spooked investors in tech giants like Microsoft (MSFT) and Alphabet (GOOG)—hasn’t dented Wall Street’s enthusiasm for the stock.
Update—February 10, 2025: This story has been updated to reflect Meta stock’s performance on Monday.
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