Meta’s issues are not related to the macro environment. Meta has issues much more specific to its own business:
- they admitted a revenue shortfall a couple of quarters ago caused by Apple’s ATT which made tracking opt-in
- “Facebook is for old people” and other platforms are seeing more engagement
- They are wasting billions on the metaverse.
While Google, Apple, Microsoft and Amazon (disclaimer where I work) have all seen declines in stock price and revenue. There is no indication that neither of them are having the same existential issues that Meta has had.
If Meta disappeared tomorrow, would anyone care or would they just move on to the next fad? Microsoft, Amazon and Apple have shown the ability to pivot and to adjust. Google hasn’t. But so far hasn’t had to.