Hold META by Nov 1, 2026.

**Business:** It’s an ad company, still. Advertising was $59.36B of $60.80B in revenue, 97.6%. After a decade and tens of billions, Reality Labs sold $431M, and the personal agents Meta keeps describing have no product yet (the CEO’s words: “we haven’t done that yet”). Revenue grew 28%, but daily users only grew 3%, so a lot of the growth is more ads shown to the same people, which has a ceiling. **Health:** Revenue hit guidance and everything under it fell. …