Meta Platforms Is Making a Push Into AI Hardware. History Says Apple Investors Shouldn't Worry.
The social media giant continues to try to establish a stronger competitive position in physical devices.
Overview
Unlike its hyperscaler peers, Meta Platforms (NASDAQ: META) doesn't operate its own legacy cloud computing platform. It's still investing heavily in artificial intelligence (AI), though, with capital expenditures forecast to be between $130 billion and $145 billion in 2026. The business certainly wants to lead the consumer AI market.
The Mark Zuckerberg-led enterprise is making a huge push into AI hardware, as its Meta Connect 2026 event revealed. The market has become more bullish about it, too, with the "Magnificent Seven" stock soaring by 25% in the past month (as of Sept. 28).
Details
Logical investors might wonder what Meta's recent product launches mean for consumer tech leader Apple (NASDAQ: AAPL). Do Meta's moves pose a threat to the iPhone maker?
Source
Originally published at www.fool.com.