According to the new research, analysts at Needham, led by Laura Martin, fear that Meta’s (NASDAQ: META) client acquisition expenditures would rise as a result. The company’s position dropped from sixth to eighth and its value declined 18 percent. Kantar BrandZ carried out the research.
The value of a company’s name may be used to predict customer uptake, churn, and pricing power. As the value of Meta’s consumer brand diminishes, we become warier of the company.
Needham said that customer lifetime value and brand value are inextricably linked. Kantar and the Prophet Brand Relevance Index both assessed Apple (NASDAQ: AAPL) to be the world’s most valuable brand.
The message said, “We are Apple consumers.”
This year, Apple, Meta, and a slew of other tech firms have taken a battering as inflation and interest rates have risen, resulting in a drop in consumer spending.
Premarket trade saw Apple’s shares rise 1%, although the company’s price is still down around 30% for the year. On Friday, Meta was also expected to rise by 1%.