JPMorgan downgrades Meta as it is 'embarking on an expensive, uncertain, multi-year transition'

Investors are staying on the sidelines amid a broad selloff in tech stocks this year. Shares of Facebook parent Meta are down more than 30% this year amid a troubling macro environment and weaker-than-expected results.
Igor Golovniov | SOPA Images | LightRocket | Getty Images

JPMorgan downgraded shares of Facebook-parent Meta Platforms after a disappointing quarterly report.

More In Street Calls

CNBC ProHere are Friday's biggest analyst calls of the day: Apple, FedEx, Coinbase, Honeywell, Micron & more
CNBC ProEnergy stocks are the best bet in the market right now, says JPMorgan
CNBC ProBank of America downgrades Micron, says recovery is 'unlikely' this year