Meta Platforms closed June 2026 at $563.29, shedding roughly 11% of its value over the course of the month after trading above $620 in early June. The culprit: a capex guidance range so large it made even the most AI-bullish investors pause and do some napkin math.
The company raised its 2026 capital expenditure forecast to $125-145 billion, primarily earmarked for AI infrastructure. For context, that range alone, the $20 billion gap between the low and high end, is larger than the entire annual revenue of most S&P 500 companies.
Strong revenue, stronger spending
Meta’s Q1 2026 revenue grew 33% year-over-year. But revenue growth stops being exciting when the spending story next to it looks like a moonshot budget.
Adding to the unease, reports of executive departures within Meta’s AI division surfaced during the month.
