NowWire · AI-assisted reporting summary · September 21, 2026 UTC
Stock Price and App Success
Meta stock jumped more than 10 percent during intraday trading after Wells Fargo increased its price target for the company from $640 to $796, according to Yahoo Finance reporting. Alongside the financial upgrade, Meta's Meta Muse AI agent app claimed the top position on Apple's App Store. Analyst Ken Gawrelski attributed the target increase to successful AI model rollouts, including the Muse Spark offering and the Muse assistant, indicating that Meta has established a clear narrative regarding its artificial intelligence capabilities. [1]
Leadership Changes and Upcoming Conference
The positive momentum represents a shift from the previous year, when Meta faced model delays and scrutiny over high infrastructure spending. CEO Mark Zuckerberg subsequently restructured the company's AI division and appointed Scale.AI co-founder and CEO Alexandr Wang as chief AI officer. These developments precede the scheduled Wednesday Meta Connect conference, where Zuckerberg is expected to deliver a keynote detailing upcoming initiatives in artificial intelligence and wearable devices. [1]
Sources
- Meta stock rockets 10% on price target increase, Muse AI downloads — 2026-09-21T18:04:23Z