Is Meta Platforms a Top Artificial Intelligence (AI) Stock to Buy Now?
Meta Platforms (NASDAQ: META) is probably one of the most misunderstood companies out there. It is consistently judged by what it does with 5% of its business rather than how the other 95% is performing. This misunderstanding was on full display after Meta reported fantastic Q3 earnings, only for the stock to drop right after the report.
Because Meta Platforms is heavily investing in the artificial intelligence (AI) space, some investors are panicking. However, I think that's the wrong way to look at it. Instead, I'm assessing the company to see if it's an AI leader, as a leadership position could be worth billions of dollars.
First, let's talk about what Meta does better than anyone else. Its core business -- social media sites like Facebook and Instagram -- is a cash cow. It thrives off of advertising revenue, which was up 19% year over year in Q3. Of the $40.6 billion in revenue that Meta generated, $39.9 billion came from advertising on its social media sites.
Source Fool.com
Meta Platforms Inc. Stock
Currently there is a rather positive sentiment for Meta Platforms Inc. with 9 Buy predictions and 3 Sell predictions.
With a target price of 615 € there is a slightly positive potential of 1.47% for Meta Platforms Inc. compared to the current price of 606.1 €.
