October 23, 2026
Bonus Content: Meta Spent More on AI This Quarter Than It Generated
Every American Should Unlock Their IRA/401k In 2026
Most Americans have no idea their Retirement Plan is locked down.
Let’s say you’re at a restaurant – you can order anything you want, as long as it’s on the menu.
But what if you found out you have a fish allergy, and you’re at a seafood restaurant?
Because if you’ve had an employer 401(k), then you remember seeing the options:
You can invest in anything you want, as long as it’s on the menu. Same thing with many IRA plans.
But what happens if everything on the menu can make you sick?
That’s what many Americans are facing right now. Because whether you order the S&P Index Fund, the 60/40 Stocks and Bonds mix, or any other combination on the menu…
All the ingredients come from the same kitchen – the stock market.
And you already know the stock market has made people sick.
The ups and downs can be nauseating.
Now that’s not a problem if you’re a few decades away from retirement, because you can ride out the storm, and things could likely turn in your favor.
But when you’re already retired, or about to retire, then the game changes.
Because it’s not about growing your assets anymore, it’s about preserving your assets, right?
That means if you have $1 million saved for retirement…
Then you expect that million to pay for your travel, gifts, visits to family and grandkids…
For the rest of your life. Literally! And that’s a great plan.
So how do you tackle the problem?
You could hope the stock market rockets up again, and grows your retirement…
Or you could look at assets that help defend against inflation.
Except the problem is, many IRAs and 401(k)s can be locked out of inflation-defending assets.
But it doesn’t have to be that way.
Because right now, thousands of Americans have figured out how to UNLOCK their IRA/401(k) so they can diversify a portion of their retirement savings into assets that help defend against inflation.
That’s why we put together this free guide.
It’s a brief, to-the-point handbook that shows you:
- The IRS Rule That Lets You Access Locked Retirement Funds
- Who Really Controls Your Retirement Savings
- How To Transition To An Unlocked IRA
And it’s completely free to get a copy.
So what you do with your retirement savings is your business, but at the very least, you should be educated about your options.
But of course, the choice is yours.
Meta Spent More on AI This Quarter Than It Generated
Meta’s Q3 release, dropped after the close on Wednesday October 21, contains three separate market-moving decisions compressed into one document: a record revenue quarter, a litigation charge large enough to swing EPS by $3.57, and a structural change to the company’s capital architecture that will still be resetting the stock in January. Active traders who read only the headline revenue beat are looking at the wrong number.
The Quarter in Numbers
Revenue reached $64.601 billion, up 26% year over year, exceeding expectations due to strong advertising growth. Against a consensus estimate near $63.3-$63.4 billion, that is a clean top-line beat. Operating profit, however, declined 37% to $12.988 billion, impacted by a $9.890 billion litigation settlement expense related to teen mental health. Excluding that charge, operating profit for the quarter would have been $22.880 billion and EPS would have risen by $3.57 to $7.40. Reported EPS of $3.83 came in far below where many models had been, but those models never agreed on how to treat the settlement, making comparisons unreliable.
Capital expenditures of $34.91 billion were larger than $32.79 billion of cash from operations, leaving free cash flow of negative $2.12 billion. That is the first quarter in Meta’s public-company history in which capital spending, including principal payments on finance leases, exceeded operating cash flow.
The Capex Regime Shift
Meta narrowed its 2026 capex plan to $135-145 billion from a prior outlook of $130-145 billion, meaning the bottom of the range rose by $5 billion. The least Meta now plans to spend is higher than it was in July. The company has spent $85.8 billion through the first three quarters. Landing at the low end of guidance requires approximately $49.2 billion more in Q4 alone. That single-quarter outlay would exceed every prior quarter in Meta’s history.
Full-year 2026 total expenses are now guided to $175-179 billion. Excluding the litigation charge, full-year operating income is still expected to be above 2025 operating income, per the company’s commentary. The tension for traders: Q4 revenue guidance of $73-76 billion sets a high bar against a cost base that is scaling faster than any prior cycle. Across the four major hyperscalers, combined 2026 capex guidance is commonly framed in the $720-745 billion range, with Meta’s share sitting at $135-145 billion. Nvidia remains the primary capex destination across that group.
The Class C Structure
Meta announced alongside results that it would introduce nonvoting Class C shares. Every Class A and Class B share will receive one Class C share through a dividend, effectively creating a two-for-one stock split. Meta said it intends to make the amended Delaware charter effective January 19, 2027, and expects the Class A market price to reflect a two-for-one split after the dividend is paid. The structure lets Meta raise money for its AI buildout while CEO Mark Zuckerberg keeps control of the company. Google used a similar approach in 2014 by distributing non-voting Class C stock to existing shareholders. CFO Susan Li said Class C trading is expected to begin in late January and that Meta had no specific financing plans, describing the structure as preparation for access to varied funding sources.
Technical Framework
META closed Wednesday at $697.52. After-hours, the stock reached approximately $737. Whether that level holds on Thursday’s open determines whether the earnings reaction is constructive or a fading gap.
The consensus analyst price target sits at $814.51, implying roughly 17% upside from Wednesday’s close, with 63 analysts rating the stock Strong Buy. The 52-week range is $520.26 to $779.82, meaning the stock is currently mid-range.
Scenario Modeling
Bull Case: The $9.89 billion charge is universally treated as non-recurring. Clean EPS of $7.40 re-rates the stock toward 22-24x forward earnings, implying a price range of $740-790. Q4 revenue lands at or above the $76 billion ceiling and ad revenue per user continues to expand.
Base Case: META trades in a $690-740 range near-term as the market digests the capex commitment against Q4 guidance. The Class C distribution in January introduces technical complexity around share count and index mechanics. Free cash flow remaining negative limits the buyback floor that has historically supported the stock.
Bear Case: Capex lands at $145 billion or above, free cash flow deteriorates further, and Q4 revenue prints toward the $73 billion floor on currency headwinds. Any legislative action on the teen settlement that expands liability beyond the roughly $18.59 billion agreement reintroduces tail risk.
Active Trader Framework
The numbers here are not vague. Capex of $34.91 billion in one quarter, free cash flow of negative $2.12 billion, and a settlement charge that moves EPS by $3.57 are all specific and were laid out in the release. Preparation means knowing exactly where the structure breaks before the open, not after.
The capex commitment does not exist in isolation from broader market stress. Semiconductor stocks logged their worst eight-session run since 2008 in mid-October, with long bonds failing to cushion the drawdown.
