Meta Nears $1 Trillion Value Again After Huge Comeback From Metaverse Struggles
• Meta Platforms is close to regaining $1 trillion market cap, after falling from a peak of $1.08 trillion in Sept 2021 to $235 billion in Nov 2022 • The decline was due to Meta's big investments in the metaverse, while facing revenue pressures • Meta quickly changed course by cutting jobs and reducing pandemic-era spending • Currently only 5 U.S. companies are valued over $1 trillion - Microsoft, Apple, Alphabet, Amazon, and new entrant Nvidia • Meta's shares have rebounded $732 billion since November, more than Tesla, Eli Lilly, Visa, and Broadcom's current market caps