Despite Bernstein designating Meta Platforms as the company's top pick, it declines

On Thursday, despite the tech titan being the top pick of financial company Bernstein, Meta Platforms saw a more than 3% decline.

The corporation claimed that it is at a crossroads for the third time in its history and that the bear case is growing louder because some people think social media has a "expiration date." The company, which rates Meta Platforms (META) with an outperform rating and a $195 price target, claimed that at this point, a small recovery may go a long way toward quelling bearish sentiment.

The analysts stated that "at present pricing levels, we don't need to prove out the bull case for the stock to function." Today, all that is required of the company is for it to get back on track, show improvement in revenue trajectory, and show proof that global engagement is growing throughout its family of apps.

The upcoming third-quarter results may be regarded as a "make or break" quarter, the analysts said, adding that the objectives are "easier said than done."

While stating that "there is evidence to show that all three legs to the bear thesis have been overdone and over-hyped," they noted, "We are neither apologists nor blind optimists."

Gene Munster, an analyst at Loup Ventures, stated on Wednesday that Apple and Meta Platforms are well positioned to take the lead when investors start investing again in the technology industry.