Meta Platforms, Inc. (ticker: $META) has been downgraded by Jefferies from a price target of $810 to $725, maintaining a 'buy' rating. The stock is currently trading below its 200-day moving average for the first time since January 2023, marking a notable shift as it becomes the last of the 'Magnificent 7' stocks to do so. As of the latest trading session, $META experienced a decline of 2.19% overnight, contributing to a broader trend where the average 'Magnificent 7' stock is down approximately 25% year-to-date. This downturn has led to the group officially entering a bear market, with many stocks in this category showing significant drawdowns from their peaks, including $TSLA down 47% and $NVDA down 30%. Meta's market capitalization share in the S&P 500 has also dropped sharply, reflecting a broader decline in tech stocks, which have accounted for a substantial portion of the S&P's overall drop this year.