Can Meta Platforms stay above $700 in October 2026?

Meta Platforms shares pulled back sharply on Wednesday morning to trade below $750 after the US consumer price index in September increased by 3.7% from last year, ahead of the forecast rate of 3.6%. That’s also a significant sequential increase from August’s change of 3.4%. The monthly rate came in at 0.6% versus August’s 0.4%.

Rising inflation is putting more pressure on risk assets like technology stocks as the AI-driven momentum begins to fade.

The latest pullback in the stock price has increased the odds of it hitting $700 in October, with Polymarket traders giving it a 51% chance, up from about 40% pre-market.

Traders can buy a yes contract on META hitting $700 this month for $0.53. However, it is the no contract that could turn out to be the smart play. And at $0.51 per share, that means a 49% return in just over two weeks. 

Factors that could keep META above $700 in October

Meta Platforms’ pullback appears to have established support around the $145 level, which could be key to determining whether it eventually stays above $700 through October.

Today’s sell-off was fueled partly by the higher-than-expected. So if the stock can shake off the impact of that without falling too low, then it should be good for traders targeting a no-bet on $700.

Next Wednesday after the market closes, Meta Platforms will report its third-quarter results, which, depending on performance and guidance, could provide more upside, thus limiting a downward movement. The company has outperformed consensus analysts' estimates on earnings in 7 of the last 8 quarters. 

Unfortunately, the one quarter it missed estimates was the most recent one, Q2 2026, and that puts some doubt as to whether it will beat Q3 estimates. The company's Q2 EPS of $6.18 per share fell short of the analyst estimates, which ranged from $7.17 to $7.40. However, the Q2 bottom line was largely affected by $2.4 billion in legal charges tied to legal proceedings during the quarter.

Consensus analyst estimates for Q3 earnings per share range between $6.35 and $6.76, depending on the tracker. 

Without the adverse impact from legal charges, and looking at relatively lower earnings estimates, Meta may have a better chance of beating analyst estimates in Q3.

Any earnings beat backed by strong guidance for the fourth quarter could give the stock enough upward momentum to stay above $700 for the remainder of the month.