Earnings season for the recent quarter ended March 31 is in full swing, and it's creating some unique opportunities for investors. Meta Platforms (NASDAQ: META) stock, for example, is down 12% since the company released its results, despite beating Wall Street's expectations.

The social media giant, which is home to Facebook and Instagram, revealed plans to ramp up its spending on growth initiatives like artificial intelligence (AI), which could dent the company's earnings potential in the short term. However, this could be a golden opportunity for investors who can afford to hold Meta stock for the next few years.

According to The Wall Street Journal, the overwhelming majority of Wall Street analysts give Meta stock the highest-possible buy rating. Considering it's now the cheapest name in the trillion-dollar club by one widely used valuation metric, there is no time like the present to follow the Street's lead.

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Source Fool.com