Meta stock price is down today: Why Meta stock is falling despite strong earnings? Is AI spending taking its toll now?

Meta Platforms Inc. (META) shares plummeted 3.28% to $668.99 on February 5, 2026. The sell-off centers on a staggering $115 billion to $135 billion capital expenditure (capex) forecast for 2026. This aggressive AI infrastructure pivot has investors fearing rapid margin compression. Meta’s operating margin already dipped to 41% from 48% last year. While revenue surged 24% to $59.89 billion, the high cost of "Personal Superintelligence" is spooking Wall Street.