Meta Platforms Q4 strong but outlook ‘more mixed,’ says JPMorgan

JPMorgan says Meta Platforms (META) reported strong Q4 results with an outlook that is “more mixed,” largely due to higher expenses, and framed 2025 as a defining year for its most key long-term initiatives. Management expects to be able to leverage DeepSeek’s advances and emphasized that Meta’s heavy investments will be strategic advantages over time, the analyst tells investors in a research note. JPMorgan expects 2025 and 2026 earnings estimates to come down, “which suggests a near-term digestion period in shares is likely needed.” The firm keeps an Overweight rating on Meta with a $725 price target