Meta Platforms shares have rallied sharply to around $778 in late September 2026, up over 30% in the past month and near 52-week highs, driven by the early-September launch of the Muse personal AI agent and subsequent analyst price-target upgrades. Core advertising revenue grew 28% year-over-year to $60.8 billion in Q2, supporting robust top-line momentum, while the company guides Q3 revenue of $61–64 billion ahead of the October 28 earnings release. Heavy AI infrastructure spending, with 2026 capex now expected at $130–145 billion, has compressed margins and free cash flow, contributing to an EPS miss in Q2 and ongoing investor focus on monetization timelines. The stock trades near 29 times trailing earnings with consensus 2026 targets clustered around $780–800, reflecting trader emphasis on AI optionality versus near-term cost pressures.