{"id":70020,"date":"2026-10-23T01:56:07","date_gmt":"2026-10-23T01:56:07","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/meta-shares-slide-after-q3-beat-as-class-c-stock-plan-and-capex-surge-unsettle-markets\/"},"modified":"2026-10-23T01:56:07","modified_gmt":"2026-10-23T01:56:07","slug":"meta-shares-slide-after-q3-beat-as-class-c-stock-plan-and-capex-surge-unsettle-markets","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/meta-shares-slide-after-q3-beat-as-class-c-stock-plan-and-capex-surge-unsettle-markets\/","title":{"rendered":"Meta hisseleri, 3\u00c7 beklentileri a\u015fmas\u0131na ra\u011fmen C s\u0131n\u0131f\u0131 hisse plan\u0131 ve sermaye harcamalar\u0131ndaki sert art\u0131\u015f\u0131n piyasalar\u0131 tedirgin etmesiyle geriledi"},"content":{"rendered":"

Meta, 3\u00c7\u2019de beklentileri a\u015fan sonu\u00e7lar a\u00e7\u0131klad\u0131 ve 4\u00c7 gelir beklentisini yukar\u0131 revize etti; ancak yat\u0131r\u0131mc\u0131lar yeni bir adi hisse s\u0131n\u0131f\u0131 ile uzun vadeli harcamalardaki sert art\u0131\u015f\u0131 fiyatlarken hisse geriledi. Di\u011fer yapay zek\u00e2 hisselerindeki zay\u0131flaman\u0131n da etkisiyle NASDAQ %2\u2019nin \u00fczerinde d\u00fc\u015ferken, META per\u015fembe erken i\u015flemlerde yakla\u015f\u0131k %6 kay\u0131p ya\u015fad\u0131. D\u00fczeltilmi\u015f HBK (EPS) 6,80 dolarl\u0131k piyasa beklentisine kar\u015f\u0131l\u0131k 7,40 dolar olurken, gelir y\u0131ll\u0131k %26 art\u0131\u015fla 64,6 milyar dolara y\u00fckseldi ve 1,2 milyar dolar \u00fczerinde geldi; 4\u00c7 gelir beklentisi 73\u201376 milyar dolar aral\u0131\u011f\u0131na \u00e7\u0131kar\u0131ld\u0131. \u00c7ocuk g\u00fcvenli\u011fi davalar\u0131na ba\u011fl\u0131 9,9 milyar dolarl\u0131k dava gideri GAAP EPS\u2019yi 3,83 dolara \u00e7ekti; bu, tahminlerin 1,63 dolar alt\u0131nda kald\u0131.<\/p>\n\n

Endi\u015felerin oda\u011f\u0131nda nakit yarat\u0131m\u0131 ve taahh\u00fctler de vard\u0131. Meta, 2036\u2019ya kadar a\u011f\u0131rl\u0131kl\u0131 olarak bilan\u00e7o d\u0131\u015f\u0131 veri merkezi ve ilgili anla\u015fmalar\u0131 kapsayan gelece\u011fe d\u00f6n\u00fck capex taahh\u00fctlerini 700 milyar dolardan 825 milyar dolara y\u00fckseltti. 3\u00c7 capex\u2019i 34,9 milyar dolar ile 32,8 milyar dolarl\u0131k faaliyet nakit ak\u0131\u015f\u0131n\u0131 a\u015farak -2,1 milyar dolar serbest nakit ak\u0131m\u0131 (FCF) \u00fcretti; bu rakam ge\u00e7en y\u0131l 10,6 milyar dolard\u0131. \u015eirket ayr\u0131ca 2026 mali y\u0131l\u0131 toplam capex y\u00f6nlendirmesini 135\u2013145 milyar dolar olarak payla\u015ft\u0131; alt bant 5 milyar dolar art\u0131r\u0131ld\u0131. Meta, ocakta tamamlanmas\u0131 planlanan ve 2\u2019ye 1 tarz\u0131nda bir da\u011f\u0131t\u0131m olarak kurgulanan oy hakk\u0131 olmayan C s\u0131n\u0131f\u0131 (Class C) hisseyi de devreye soktu; be\u015f y\u0131ll\u0131k kredi temerr\u00fct takaslar\u0131 (CDS) yakla\u015f\u0131k 9 baz puan artarak y\u0131ll\u0131k 119 baz puan\u0131n \u00fczerine \u00e7\u0131kt\u0131. Hisseler 658 dolar civar\u0131nda i\u015flem g\u00f6r\u00fcrken eyl\u00fcl zirvelerinin yakla\u015f\u0131k %15,5 alt\u0131nda kald\u0131; teknik seviyeler olarak 30 haftal\u0131k basit hareketli ortalama (SMA) 625 dolar civar\u0131, destekler 582 dolar ile 520\u2013540 dolar band\u0131 olarak an\u0131ld\u0131.<\/p>\n\n

Y\u00fckselen Volatilite Ortam\u0131nda \u0130\u015flem Stratejisi<\/h3>\n\n

NASDAQ\u2019\u0131n %2\u2019nin \u00fczerinde d\u00fc\u015fmesi ve Meta hisselerinin eyl\u00fcldeki son zirvelerinden %15,5 gerilemesiyle b\u00fcy\u00fck teknoloji hisselerinde k\u0131sa vadeli t\u00fcrb\u00fclans\u0131n belirginle\u015fti\u011fini g\u00f6r\u00fcyoruz. T\u00fcrev i\u015flem yapan yat\u0131r\u0131mc\u0131lar, z\u0131mni volatilite y\u00fcksek seyrederken, daha geni\u015f piyasa zay\u0131fl\u0131\u011f\u0131na kar\u015f\u0131 korunma amac\u0131yla put opsiyonlar\u0131 veya k\u0131sa endeks vadeli i\u015flemlerini de\u011ferlendirebilir. Tarihsel olarak, negatif serbest nakit ak\u0131m\u0131 s\u00fcrprizi i\u00e7eren teknoloji bilan\u00e7o a\u00e7\u0131klamalar\u0131, birka\u00e7 hafta s\u00fcrebilen kal\u0131c\u0131 fiyat oynakl\u0131\u011f\u0131 \u00fcretebiliyor.<\/p>\n\n

Opsiyon yat\u0131r\u0131mc\u0131lar\u0131na, hisse fiyat\u0131 30 haftal\u0131k basit hareketli ortalamas\u0131 olan 625 dolar civar\u0131na s\u00fcr\u00fcklenirken pozisyonlar\u0131n\u0131 kritik teknik seviyeler etraf\u0131nda yap\u0131land\u0131rmalar\u0131n\u0131 \u00f6neriyoruz. 625 veya 582 dolar seviyelerini hedefleyen put opsiyonlar\u0131 almak, agresif harcama endi\u015feleriyle beslenen olas\u0131 a\u015fa\u011f\u0131 y\u00f6nl\u00fc momentumdan faydalanmaya imk\u00e2n tan\u0131r. Buna kar\u015f\u0131l\u0131k, geri \u00e7ekilmenin dengelenmesini bekleyenler i\u00e7in daha \u00f6nce test edilen 520\u2013540 dolar destek b\u00f6lgesine yak\u0131n seviyelerde bo\u011fa put spread (bull put spread) satmak cazip bir risk-getiri kurgusu sunabilir.<\/p>\n\n

Kredi Riski, Capex ve Opsiyon Piyasas\u0131 Yans\u0131malar\u0131<\/h3>\n\n

Be\u015f y\u0131ll\u0131k CDS\u2019lerin 9 baz puan s\u0131\u00e7rayarak 119 baz puan\u0131n \u00fczerine \u00e7\u0131kmas\u0131yla piyasa kat\u0131l\u0131mc\u0131lar\u0131, kredi risklerine kar\u015f\u0131 sigorta i\u00e7in rekor d\u00fczeyde prim \u00f6d\u00fcyor. 2026 y\u0131l\u0131 toplam capex\u2019inin 145 milyar dolara do\u011fru \u00f6l\u00e7eklenmesiyle bor\u00e7 notuna ili\u015fkin bask\u0131 olas\u0131l\u0131klar\u0131na kar\u015f\u0131 faiz opsiyonlar\u0131 veya sabit getirili t\u00fcrevler \u00fczerinden korunma bu ortamda kullan\u0131labilir. Kredi korumas\u0131 maliyetlerindeki art\u0131\u015f, genellikle y\u00fcksek getirili ve \u015firket tahvili piyasalar\u0131nda opsiyon \u00e7arp\u0131kl\u0131\u011f\u0131n\u0131n (skew) a\u015fa\u011f\u0131 y\u00f6nl\u00fc put korumas\u0131 lehine yat\u0131k kalmas\u0131na neden olur.<\/p>\n\n

Ocakta planlanan oy hakk\u0131 olmayan Class C hisselerin devreye al\u0131nmas\u0131, 2\u2019ye 1 hisse b\u00f6l\u00fcnmesine benzer bir etki yaratarak uzun vadeli opsiyon s\u00f6zle\u015fmelerinde d\u00fczeltmeleri ve fiyatlamay\u0131 de\u011fi\u015ftirecek. B\u00f6l\u00fcnme \u00f6ncesinde daha d\u00fc\u015f\u00fck opsiyon primlerinden yararlanmak i\u00e7in uzun vadeli opsiyon stratejileri ve sentetik hisse pozisyonlar\u0131 \u015fimdiden de\u011ferlendirilebilir. Tarihsel veriler, b\u00fcy\u00fck teknoloji \u015firketlerindeki hisse b\u00f6l\u00fcnmelerinin opsiyon i\u015flem hacmini genellikle %15\u2013%20 art\u0131rd\u0131\u011f\u0131n\u0131 g\u00f6steriyor; bu da gelecek y\u0131l\u0131n ba\u015f\u0131nda likiditeyi g\u00fc\u00e7lendirip al\u0131\u015f-sat\u0131\u015f makas\u0131n\u0131 (bid-ask spread) daraltabilir.<\/p>\n\n\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

Meta 3\u00c7\u2019de beklentileri a\u015ft\u0131, 4\u00c7 gelir hedefini y\u00fckseltti; ancak rekor capex taahh\u00fctleri, negatif FCF, Class C hisse hamlesi ve artan CDS\u2019ler bask\u0131s\u0131yla META %6 d\u00fc\u015ft\u00fc.<\/p>\n","protected":false},"author":87,"featured_media":70019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-70020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t