Meta is approaching the market value of 1 trillion dollars: $1 trillion, up 200% through 2023. In 2024, which Mark Zuckerberg called the “year of efficiency,” the company is aiming for a valuation close to its previous record.
A destination close to one thousand billion dollars in value on the market
Meta has reached the rating of 966.60 billion dollars: only 33.4 billion dollars are missing to reach the prestigious goal. If the company were to reach this figure, as Business Insider points out, it would enter the club of the richest tech giants: Microsoft, Apple, Alphabet, Amazon e Nvidia. A ranking recently changed from the focus on artificial intelligence: Microsoft has overtaken Apple thanks to Copilot (reaching $2.93 trillion), Nvidia which has seen its value grow vertically because its GPUs are great for AI.
This isn’t the first time Meta has found itself in this position. The last time she topped the trillion dollar mark was in June 2021at a time when technology companies had achieved stellar valuations. Meta reached $1.08 trillion on September 7 of the same year, a company record. Now it could get closer to those figures.
From that moment, however, the company began to lose value. In the February 2022, the company suffered the largest single-day loss in U.S. corporate history, due to the first contraction in Facebook’s daily active user base. But over the past year, the trend has changed.
To respond to the sharp decline in 2022, Meta has fired 11,000 people In the November 2022 and during 2023 announced several cuts in operating costs. With these operations and the new focus on AI, Meta’s shares experienced a notable increase in 2023with a gain of almost 200%. Last Thursday, Meta shares closed up by 2,1% a $376.13 each. To get to a trillion, they would have to be worth $389.13.
With an increase of 6,3% of the actions so far in 2024, Meta continues its march towards the trillion dollar milestone. Which she could reach soon.
