I am bullish on Meta Platforms due to its strong growth levers, especially accelerated AI growth, and double-digit undervaluation. META's financial strength, consistent top and bottom-line growth, and double-digit margins highlight its resilience and attractiveness as an investment. META's competitive edge lies in its massive user base, network effect, continuous innovation, and effective responses to emerging threats like TikTok.
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Paul Meeks, Harvest Portfolio Management CIO, joins 'Squawk Box' to discuss Meta's record run, state of the AI tech race, and more.
Artificial intelligence (AI) investing is still one of the prevailing themes in the markets. Investors need to have some exposure to this trend, as it has the potential to be a generation-defining technology with a similar magnitude of impact as the internet.
Artificial intelligence (AI) continues to garner lots of attention. And for good reason.
Meta's stock has surged over 12%, surpassing my $683 price target, driven by strong revenue and operating income growth in its FoA business segment from a combination of Core and GenAI initiatives. Plus, Reality Labs' revenue grew 301% YoY, fueled by demand for Ray-Ban Meta AI glasses, which I believe signals optimism for AI glasses as the next computing platform. Despite projected slower revenue growth in 2025 along with Meta's plans to grow capex by over 60% YoY in 2025, investors are not concerned.
Meta Platforms (META 0.35%) has been one of the hottest growth stocks to own in recent years. Since the beginning of 2023, it has skyrocketed by around 490%, turning a $10,000 investment into nearly $59,000.
Meta plans to cut thousands of jobs to focus on AI investment and efficiency. Mark Zuckerberg targets low performers, part of a broader industry move toward leaner operations.
Over the last couple of years, businesses across every industry sector have become overwhelmingly enamored with artificial intelligence (AI). In particular, graphics processing units have become all the rage given their advanced computing power -- which is needed to train generative AI programs such as large language models.
Meta is set to begin its previously announced workforce reduction on Monday (Feb. 10). The company told staff on Friday (Feb. 7) that those who are laid off will be cut off from Meta's internal system within an hour and notified about their severance packages via email, The Information reported Friday.
Meta Platforms (META 0.35%) stock has been in fine form on the market over the past three years, delivering healthy gains of 116% to investors and outperforming the 37% increase in the Nasdaq Composite index during the same period.
Impacted employees will receive notifications via their personal and work emails on Monday, according to an internal memo.