At the risk of getting strong downvotes, I believe META is still a bit expensive, because:
\- Their revenue per user is still growing nicely ( [https://app.rast.guru/?company=Meta](https://app.rast.guru/?company=Meta) ), but until when? Advertisers are already turning to TikTok for cheaper campaigns
\- Their users are still growing but they are flattening (3.5B users, the planet has unfortunately a limited population :) )
Meta's key way of growing revenue so far has been to raise the ads prices. This can't go on forever, because advertisers have now a solid alternative for their campaigns with Tiktok. Meta won't manage to keep on raising their prices forever.
Of course, the AI path may create more revenue. But given their track record of burning money on AR, I have serious doubts about their capacity in creating new profitable AI-powered products.