With its shares down another 10%, is Meta worth a buy?

Meta’s last financial year was a conservative one: cutting costs, boosting margins, even declaring a dividend for the first time. This sensible approach has paid off, with operating income up by an impressive 91 per cent in the first quarter year-on-year to $18.8 billion and the company beating expectations for earnings per share by about a tenth. But that spending itch is hard to ignore, especially when it is on exciting projects involving artificial intelligence and even more so when …