From Nasdaq: 2024-07-09 08:46:00

Meta Platforms shares hit a 52-week high at $542.81 and closed at $529.32, up 49.5% YTD, outperforming the Internet Software industry and Computer & Technology sector. Advertising revenues in Q1 2024 increased by 26.8% to $35.64 billion, with strong growth prospects.

Meta Platforms integrates AI tools in its offerings like WhatsApp, Instagram, and Facebook, reaching over three billion people daily. Incorporating AI in businesses to enhance customer experience and drive conversational commerce is a priority.

Meta Platforms expects to invest significantly in developing AI models, with total expenses and capex for 2024 forecasted to increase. Revenues in 2024 are estimated at $158.97 billion, emphasizing the company’s commitment to AI development for long-term growth.

Despite regulatory concerns and high valuation, Meta Platforms remains a key player in the digital ad market due to its AI innovation and user-centric features. Investors are advised to wait for a better entry point, considering the company’s AI focus and margin pressures in the near term.



Read more at Nasdaq: Meta Platforms Hits 52-Week High: What’s Next for META Investors?