Meta Platforms (META) shares experienced a short-term decline of 2.38% following a recent leadership reshuffle in Southeast Asia, where Dhruv Vohra was appointed to oversee commercial operations across six key markets. Despite this dip, the company has demonstrated significant momentum with a 30-day share price return of 16.95% and a three-year total shareholder return of 122.14%, though recent volatility suggests short-term sentiment cooling. The article highlights Meta's aggressive investment in AI infrastructure, noting that capital expenditures reached $72.2 billion in 2025 with guidance for 2026 lifted to a range of $125 billion to $145 billion. This represents roughly doubling the infrastructure bill in a single year, a move that previously caused the stock to fall when announced in April. The company is also focusing on new enterprise platforms and AI agents like Muse. Valuation analysis suggests Meta Platforms trades at a meaningful discount to analyst targets and intrinsic value models, with a calculated fair value near $1,018.71 compared to a recent close of $721.31. However, the stock currently trades at a P/E ratio of 27x, which is slightly above the peer average of 26.6x and more than double the sector level of 12.1x, creating a divergence between DCF-based undervaluation claims and earnings-multiple reality. Key risks to Meta's growth narrative include potential regulatory tightening on data and privacy rules, as well as continued pressure on profitability from heavy spending in AI and Reality Labs. Investors are weighing whether the current premium valuation leaves less room for error if sentiment cools or if it represents a strategic entry point into a stronger franchise driven by future cash flows.