Goldman Sachs Cuts Meta Price Target to $762

Goldman Sachs lowered its price target on Meta Platforms to $762 from $860, TipRanks reported on Tuesday. The cut marks a rare step back from one of mega-cap tech's most aggressive institutional backers, reflecting mounting scrutiny over infrastructure spending and margin durability. The adjustment lands alongside reporting from TipRanks that KeyBanc is pressing Netflix for capital discipline after a 25% drop in 2026, while Benzinga noted Gene Munster cautioning that Apple continues to lag tech's primary opportunities despite hardware gains. The research desk trims are playing directly into a tech tape where market makers have lost their structural cushion. On my equity desk, QQQ is pinned in short gamma, changing hands at 738.29 beneath its 738.78 flip level. When spot trades below the flip, dealers are no longer the market's natural shock absorber. Rather than buying dips and fading rallies to manage their exposures, desk hedging instructions invert: dealers must sell into declines and chase upside, amplifying intraday swings instead of muting them. With QQQ skew at 2.5 and an expected move of plus or minus 1.37%, the tape remains vulnerable down to the 735 put wall before any meaningful floor emerges. The same structural friction is visible across the broader market. SPY sits at 775.17, also submerged in short gamma under its 780.84 flip, with dealers holding a put wall down at 770 against an expected move of plus or minus 1.43%. Across the macro complex, front-month Nasdaq futures are down 0.68% at 30,581 while the 10-year yield pushed to 5.31%, compounding the discount-rate pressure on long-duration balance sheets. Only small caps are showing any insulating buffer. IWM trades at 273.10 in long gamma territory above its 271.56 flip, parked directly on its 273 put wall where dealers act to dampen volatility. But for tech, multiple compression meets a dealer book forced to press direction rather than contain it. What traders do with that regime is their click, but the underlying structure shows the shock absorbers are gone.