Meta rebounds 24.34% as Muse hits #1 in App Store

Meta Platforms shares are up 24.34% over the past month, a reversal from a stretch in which the company's AI narrative had been overshadowed by spending concerns. The immediate catalyst is Muse, which became the #1 app in the App Store one week after launch and remains U.S. only. For a company with 3.60 billion daily active people across its apps, the international rollout is the obvious next lever.

The bull case rests on more than one app. Meta's Q2 revenue grew 27.96% year over year, ad pricing rose 12%, and new ranking models lifted Facebook ad clicks 8.3% and conversions 15.7%. More than 1 million businesses use Meta business agents weekly, and CEO Mark Zuckerberg said Meta is fielding offers for compute at a significant premium, framing internal compute as a compounding asset. Analysts model $305.9 billion in 2027 revenue and $33.94 in 2027 EPS, and the consensus 12-month price target is $755.28.

The path to $1,000 per share, floated for 2027, would require about a 48% gain and a forward multiple near 29x. Meta currently trades near $676 at roughly 20x forward earnings, a discount to the S&P 500's ~22x. Whether that expansion materializes appears to hinge on Muse scaling internationally and on another run of earnings beats, after five consecutive quarters of EPS beats before Q2.