Meta shuts down its Connectivity division after nearly a decade

Last month’s layoffs broke up Meta’s Connectivity arm, which, at one point, worked on developing a satellite-based internet system. Meta’s shuttering its Connectivity arm almost 10 years after launching the initiative, according to a report from Light Reading. The company confirmed to both Light Reading and Fierce Wireless that it will instead split the division across its Infrastructure and Central Products teams. … Read more

US stocks ‘too optimistic’ after recent rally, tech stocks especially ‘vulnerable’ – Citi

The MSCI US is now forecasting an EPS rise of 4%, which is in line with analyst expectations. Conversely, Citi’s strategists anticipate a 3% decline in EPS growth for 2023. Other significant markets are pricing in minor EPS recessions, thus they are trading below analyst consensus. When compared to its average contraction (35%), the UK … Read more