At its current level, Meta Platforms Inc. (META, Financial) looks too cheap. Even though its market cap is now worth $1.31 trillion, its powerful free cash flow could push the stock higher.
The "Magnificent Seven" stocks include Apple, Nvidia, Microsoft, Alphabet, Amazon, Meta Platforms, and Tesla. Over the last 20 months, Nvidia has been the star of the group, as its stock soared more than 700% in value.
Meta Platforms' advertising business remains solid on its social networks like Facebook. It just takes one successful product for Reality Labs to become a massive profit driver.
Meta, which owns social media platforms such as Instagram and Facebook, has revealed its plans for keeping kids safe online. It wants companies like Apple and Google, who run mobile phone app stores, to force parents to approve when their children attempt to install phone apps which are popular among young people.
Meta Platforms (META) closed at $512.74 in the latest trading session, marking a +0.19% move from the prior day.
Meta's Oversight Board ruled on Wednesday that the standalone use of the phrase "From the River to the Sea," a slogan popular with pro-Palestinian users, does not violate the company's content policies.
Although Meta Platforms' expanding AI prowess is noteworthy, higher investments in developing AI models, services and infrastructure are a concern for investors.
Meta Platforms' Oversight Board said on Wednesday the Facebook parent should not automatically remove a phrase seen by some as displaying solidarity with Palestinians and by others as an endorsement of violence against Jews.
Social media giant Meta Platforms will inform Brazilians how it intends to use their personal data to train generative artificial intelligence (AI), it said on Tuesday, following a demand from the country's data protection watchdog.
Meta's microblogging site Threads has been the second-most downloaded free app in Brazil for three days, beaten only by its peer BlueSky, according to research firm Sensor Tower.
Meta Platforms' shares jump YTD, driven by the expanding use of AI in its various platforms.
Meta hit 3.2 billion daily active users in Q2 2024, with WhatsApp reaching 100 million monthly U.S. users. RSI at 60.88 indicates upward solid momentum for META ahead of its October earnings. Meta shows strong support at $590, with a bullish target of $675 based on key Fibonacci levels, indicating potential for a breakout.