Meta stock slides as Trump’s 15% tariff plan rattles tech — Wells Fargo still raises target
Meta shares fell 1.5% to $646.05 Monday as tech stocks dropped after President Trump announced a new 15% global tariff. Investors focused on Meta’s rising AI infrastructure costs, with 2026 capital expenditures forecast up to $135 billion. Wells Fargo raised its price target to $856, citing AI compute capacity. Meta also cut most staff stock options by 5% and declared a $0.525 quarterly dividend.