Social media company Meta Platform’s (NASDAQ:META) efforts to strengthen its position in the AI (artificial intelligence) race have gained significant traction in recent months. The stock has risen by 162% year-to-date, outperforming the S&P 500’s (SPX) 12% gain, and analysts see more upside ahead. Meta’s attempt to strengthen and monetize its already popular social media platforms by adopting generative AI could boost its revenue and earnings in the next few quarters. Hence, I am bullish on META stock now.
Meta Platforms: Gearing Up for Another Strong Quarter
Meta (formerly Facebook) is a part of the big tech FAANG group, which also includes Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Netflix (NASDAQ:NFLX), and Alphabet (formerly Google) (NASDAQ:GOOGL).
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