2024-04-03 09:30:00 ET
Summary
- Meta Platforms, Inc. investors have outperformed the S&P 500 significantly, with a nearly 40% YTD return in Q1.
- Meta demonstrates its financial prowess by rewarding shareholders with an enlarged repurchase authorization and initiating dividends.
- Engagement losses to TikTok have been curtailed as Meta looks to crimp TikTok's advantage.
- The market must decide whether to value META as a digital advertising stock or one with significant AI capabilities.
- With the market trying to find its way over the last two months, investors should consider returning to the sidelines.
Meta Platforms, Inc. ( META ) investors have easily outperformed the S&P 500 ( SPX ) ( SPY ) in the first quarter, delivering a total return of almost 40% YTD. In my previous META article in January 2024, I urged investors to avoid cashing out too early. I highlighted Meta's relatively cheap valuation and robust earnings growth estimates over the next few years. Bolstered by highly constructive price action underpinned by a fundamentally sound business model, I expected META to continue grinding higher....
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For further details see:
Meta Platforms Needs AI Hype More Than Ever Now (Rating Downgrade)