Meta Hires Apple’s Top Design Executive Amid Stock Volatility
Meta Platforms has poached Alan Dye, Apple's head of user interface design, intensifying competition between the two tech giants. Apple promptly promoted veteran designer Stephen Lemay to fill the vacancy, with CEO Tim Cook highlighting Lemay's contributions since 1999.
Meta's stock remains under pressure, down 20% from recent highs amid concerns over aggressive AI spending. However, analysts suggest these fears may be overblown, framing the dip as a temporary 'air pocket' rather than a sustained downturn. The company's AI investments continue to drive underlying growth, making sub-$700 shares potentially attractive.
Apple maintains stronger near-term performance with a 12% year-to-date gain, bolstered by a 40% surge over the past six months. The personnel shift occurs against a backdrop of diverging trajectories for these Magnificent Seven constituents.
