BUZZ-Meta shares slip, on course to snap 20-session winning streak

Shares of Facebook parent Meta Platforms META.O down 2.6% at $717.40 on Tues, threatening to snap 20-session winning streak

META shares recent run to new record highs began on Jan 17, after the Supreme Court upheld law banning TikTok in the U.S., even though President Donald Trump signed an executive order to delay its enforcement

Through Fri, stock had gained 20.5% during the streak, far outpacing 3% gain in S&P 500 .SPX and ~3.5% advance in tech-heavy Nasdaq Composite .IXIC in same time frame

Gains in META shares were fueled by wave of news about co's AI strategy, which has helped to outweigh surge in popularity of Chinese AI model DeepSeek in late Jan

Shares trading at 28.7x forward earnings compared to their 2-yr avg multiple of 22 and 5-yr avg of 21.6, according to LSEG data

Wall Street median PT on the stock has increased from $650 three months ago to $767.50