On August 3, Meta Platforms, Inc. rose 3.02% in regular trading, trading at $589.67/share, with turnover of $36.13 billion. The stock extended its recovery following an 11-day consecutive decline that saw shares fall over 20%.

The rebound was supported by multiple Wall Street firms maintaining buy ratings despite lowering price targets. Loop Capital adjusted its target to $740 from $930, while Jefferies cut to $710 from $825, both retaining bullish outlooks. UBS highlighted that Meta's Business AI agents reached 1 million accounts within one month of launch, with monetization via charging set to begin in H2, potentially creating a new revenue stream with faster-than-typical ramp-up given the existing large account base.

The broader cloud computing sector rallied strongly, with CoreWeave up over 12%, Oracle up over 6%, and Microsoft, Amazon, and Alphabet each gaining over 5%, providing additional momentum. TrendForce forecasts global top-nine CSP capital expenditure will surge approximately 90% year-over-year in 2026 to over $886.7 billion, reinforcing AI infrastructure demand tailwinds.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)