Meta Platforms (META)

As we noted in our note on the Court of King Donald, the EU and the Middle Powers as the new power Bloc for the Globalists will need their own Mag 7 and at the very least to reduce the reliance on the old MAG7. While everyone focuses on the need for Europe to build its own defence capability, the Globalists will be focussing on having its own Amazon, Google, META and Microsoft.

They may not succeed straight away, but look for regulatory and other pushback against the US ‘incumbents’ as well as the relentless push by US Private Equity and Private Credit firms.

As such, straight line assumptions on growth and market share for the hyper scalers and others need to take account of this new and rapidly changing environment.