Meta's Muse Hits 2.5M Downloads in Two Weeks; JPMorgan Reiterates Overweight at $820 Target

Meta Platforms' new AI agent Muse topped Apple's U.S. App Store free chart within two weeks of its Sept. 8 launch, drawing 2.5 million downloads and more than 500,000 users in its first week, according to Sensor Tower and internal data. JPMorgan analyst Doug Anmuth said on Tuesday that Muse could become one of the most widely used consumer AI apps since ChatGPT, citing its ability to book travel, send emails and manage calendars across Gmail, Apple and Google calendars, and OpenTable. The bank reiterated its Overweight rating and $820 price target, arguing the agent could open revenue streams beyond advertising. Meta shares jumped 11% on Monday, their largest gain since April, and are up nearly 30% this month. Financial stocks fell Tuesday, with Charles Schwab and LPL Financial down more than 6%, on concerns AI agents could disrupt fee-based financial services. Risks remain: Amazon has blocked Muse from its shopping site, and an Oppenheimer survey found only 8% of U.S. consumers would share passwords with Meta.