META - My Top FAANG Stock to Buy for the Second Half of 2023 (and Beyond)
2023-09-20 07:19:00 ET
Most of the companies on the venerable FAANG list are well-known masters of artificial intelligence (AI). Meta Platforms (NASDAQ: META) builds lots of AI-powered smarts into its Facebook, Instagram, and WhatsApp platforms. Amazon.com (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) sell cloud-based AI tools and services to other companies. Apple (NASDAQ: AAPL) may not promote its AI use as heavily as its FAANG colleagues, but you know there's a lot of machine-learning tech involved in every Cupertino gadget.
They are great companies in their own right, and I would gladly recommend any of them when the stock price is right. However, most of them are soaring on a marketwide AI frenzy. So I'll just wait for them to cool down before making any share-buying moves. Meanwhile, I've got my eye on the lower-priced but just as exciting Netflix (NASDAQ: NFLX) stock instead.
The media-streaming veteran is changing before our eyes, leaning on new ideas such as ad-supported subscription plans and password-sharing mitigation tactics. Netflix also faces economic challenges while wrestling with two concurrent Hollywood strikes. So I get why Mr. Market is keeping a lid on Netflix's stock price right now, and I'm not ashamed to take full advantage of the red-tag discount .
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My Top FAANG Stock to Buy for the Second Half of 2023 (and Beyond)