Seeking Alpha
23 Oct 2026, 18:20 UTC · 1h ago
The Sell-Off Vs. The Prints
Impact · against what's priced in
The update on Meta is largely noise as the market has already baked in growth deceleration and the costs of aggressive AI spending. SpaceX represents a valuation shift toward compute services, moving it beyond traditional aerospace metrics.
- META−0.10
Already priced in
- The price assumes
A free-cash-flow margin holding near 22.9%, sustaining current profitability
The 80% increase in capex and negative cash flow validate the market's current refusal to pay for AI upside, as these costs compress the margins the price currently assumes.
What META's price assumes · Sep 2
