Meta stock prediction: $790 bull vs $430 bear

Meta Platforms is not an expensive stock, and that is not why it has fallen 31% from its 52-week high. At $545.83 the shares trade on roughly 22 times annualised second-quarter earnings — cheaper than the S&P 500. The problem is not the multiple. It is that in the June quarter Meta turned $31.86bn of operating cash flow into $784m of free cash flow , and its own guidance says the second half will…