Meta Platforms, Inc.

Since the beginning of 2025, Meta has seen a 30% increase in output per engineer, with the majority of that growth coming from adoption of agentic coding and power users seeing output increases of 80% year over year.

Sales of Meta glasses more than tripled last year and Zuckerberg said they are some of the fastest-growing consumer electronics in history, with Reality Labs investment now being directed most heavily toward glasses and wearables going forward.

Meta guided 2026 capital expenditures to be in the range of $115 to $135 billion with year-over-year growth driven by increased MSL and core business investment, and total expenses in the range of $162 to $169 billion with the majority of expense growth driven by infrastructure costs including third-party cloud, higher depreciation and higher infrastructure operating expenses.

Meta continues to see scrutiny on youth-related issues and has a number of trials scheduled for 2026 in the US, which management said may ultimately result in a material loss.