Meta stock surged in afternoon trading on Monday, September 21, 2026, as investors responded to a higher Wells Fargo price target and increased expectations for Meta’s artificial-intelligence product pipeline.
Meta Platforms shares were recently trading at about US$744.55, up 11.84 per cent from the previous close, according to the latest market data. The stock reached an intraday high of US$749.44, while trading volume topped 36 million shares.
The move placed Meta among the strongest performers in the major technology group during Monday’s session, with the company’s AI plans at the centre of investor attention.
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Why Meta stock moved higher
Wells Fargo analyst Ken Gawrelski raised his price target for Meta from US$640 to US$796 while maintaining an Overweight rating, according to reports on the analyst action. The revised target implies further upside from Monday’s trading level and reflects growing confidence in Meta’s ability to turn its AI investments into additional engagement and revenue.
Investor enthusiasm was also tied to Meta’s newly launched Muse personal AI agent. Meta introduced Muse on September 8 as a product designed to complete tasks, create action plans and work across services on a user’s behalf rather than simply answer questions.
Meta says Muse operates through a dedicated security system called Muse Secure VM. The company says the agent can work through a browser, connect with selected applications and request user approval before sensitive actions such as sending messages or making purchases. It is initially rolling out in the United States on iOS, Android and the web, with support for AI glasses planned for the future.
For investors, the appeal is the possibility that an AI assistant could create new subscription, commerce and advertising opportunities across Meta’s large family of applications. That commercial opportunity remains unproven, but the market has begun to treat Muse as a potentially important part of Meta’s next product cycle.
Meta Connect is the next test
Meta Connect 2026 is scheduled for September 23 and 24. Meta describes the virtual event as a showcase for developments in artificial intelligence, AI glasses and virtual reality.
Investors are expected to look for more information about Muse adoption, the company’s AI models, wearable devices and how Meta plans to make AI products useful across Facebook, Instagram, WhatsApp and Messenger.
A strong presentation could reinforce the view that Meta’s AI spending is producing new products with commercial potential. A lack of clear usage or monetization details could also lead to profit-taking after Monday’s sharp rally.
The company has increasingly framed AI as both a way to improve its existing advertising business and a platform for new products. Meta’s recent releases include AI tools that can make plans, connect with calendars and email services, create content and handle tasks for users. The company has described these tools as part of its expanding AI product lineup.
Meta’s financial position remains mixed
Meta’s second-quarter results showed strong revenue growth but also highlighted the cost of its AI expansion and other corporate expenses.
Revenue rose 28 per cent year over year to US$60.80 billion for the quarter ended June 30, 2026. However, operating income fell 8 per cent to US$18.78 billion, while net income declined 14 per cent to US$15.85 billion. Diluted earnings per share fell to US$6.18 from US$7.14 a year earlier.
Meta reported that advertising impressions increased 14 per cent and the average price per ad rose 12 per cent. Its family of apps reached 3.60 billion daily active people on average during June.
At the same time, total costs and expenses climbed 55 per cent to US$42.03 billion. The figure included legal charges, severance costs and the continued expense of building out AI infrastructure.
Meta expects 2026 capital expenditures, including principal payments on finance leases, to range from US$130 billion to US$145 billion. That level of spending makes successful AI products increasingly important to the company’s longer-term growth story.
What investors will watch next
Meta’s share-price rally has increased the pressure on the company to show that its AI spending can generate measurable returns.
- Muse adoption: Investors will want evidence that people are using the personal AI agent regularly.
- Monetization: The company has not yet demonstrated how AI agents will produce significant revenue at scale.
- Infrastructure spending: Meta’s capital budget remains exceptionally large, making efficiency and returns important questions.
- Wearables: New AI glasses and related products could give Meta another major distribution channel.
- Advertising growth: The core advertising business must continue funding the company’s aggressive AI expansion.
The company also declared a quarterly cash dividend of US$0.525 per share, payable September 28 to shareholders of record as of the close of business on September 21, according to its dividend announcement.
For Canadian investors, Meta stock trades in U.S. dollars on the Nasdaq under the ticker META. Currency movements between the Canadian and U.S. dollars can affect the value of a Canadian-held position even when the share price is unchanged in New York.
Monday’s gain reflects heightened expectations rather than a new quarterly earnings report. Meta’s next major scheduled earnings update is therefore likely to draw close attention to whether AI products are translating into revenue, user growth and stronger margins, as discussed in broader analysis of industries investing in artificial intelligence.
Frequently Asked Questions
Why did Meta stock rise on September 21, 2026?
Meta shares rose after Wells Fargo increased its price target and investors focused on the company’s Muse AI agent and the upcoming Meta Connect event.
What is Muse?
Muse is Meta’s personal AI agent, designed to complete tasks, create plans and act across selected applications with user permission.
When is Meta Connect 2026?
Meta Connect 2026 is scheduled for September 23 and 24, 2026.
What is Meta’s current stock ticker?
Meta Platforms trades on the Nasdaq under the ticker META.
What are the main risks for Meta investors?
Key risks include very high AI infrastructure spending, weaker profitability, legal costs and uncertainty over how quickly new AI products will generate revenue.
Fact-Checked: Key facts were checked against Meta’s official newsroom, investor-relations materials, official event information and current market data.
Disclaimer: This article is for general information only and is not investment advice or a recommendation to buy or sell securities.