![]() ![]() stock futures on the Nasdaq-100, which includes many tech companies, fell 0.8 percent, while S&P 500 futures lost 0.4 percent. Federal Reserve to tame the inflation, also causing investors to reprice tech stocks. Interest rates have been risen by the U.S. The poorly received results indicate a slowdown in digital advertising and a cutting of marketing budgets amid soaring inflation. E-commerce giant Amazon has also announced a downbeat outlook for the latest quarter. There was a brutal sell-off of technology stocks this week as other major companies such as Google's owner Alphabet and Microsoft reported poor earnings. Newsweek has contacted other equity analysts for further comment. "If Mark Zuckerberg does not listen to the market and continues down the 'move fast and break things' mentality on his company's finances in his quest to create a new computing platform for the future, he could end up breaking things so much that Meta gets constrained so severely that it will go on to lose future battles against its competitors." "Investors are telling Mark Zuckerberg to lower his ambitions and spend less money on the Metaverse, but the founder is doubling down, saying operating losses will increase further next year from the current level of $12.7bn in the past year," Garnry added. Peter Garnry, head of equity strategy at Saxo Bank, wrote on Thursday: "Meta has gone from its highest free cash flow in its history in Q4 2021 to the lowest in more than 10 years only three quarters later, as Mark Zuckerberg is betting everything on the Metaverse as the computing platform of the future. In February, the company also reported its first-ever fall in daily user numbers. Rivals such as TikTok have hurt the social-media company, as well as a slowdown in online advertising spending and challenges from Apple's iOS privacy update, which Facebook said would result in a $10 billion revenue loss this year. Meta's stock has been in freefall throughout 2022, by more than 60 percent.
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