TMTB: META thoughts post call

META stock reversed from up 5% to down 3%. Bottom line: #s and commentary around opex/capex were good and #s/commentary around top line were weaker than expected, saying similar things like SNAP did about war impact on ad spend.

$20-21 in EPS next year seems achievable which I think is where buyside will come out at given opex cuts, but now the narrative…