Meta's recent surge, fueled by the September launch of its Muse personal AI agent and related smart-glasses features at the Connect event, has lifted shares near all-time highs around $770 amid heavy analyst upgrades and rapid user adoption. Traders view the AI shift as validating Meta's infrastructure spending, shifting sentiment from cost concerns to revenue potential beyond advertising. With Q3 earnings due around October 28—just before month-end—and expectations for further model updates like the codenamed Watermelon release, the outcome hinges on whether strong ad revenue growth and AI traction outweigh ongoing capex pressures and any post-earnings volatility. Market-implied odds reflect this momentum while acknowledging typical earnings-driven swings.