Meta Platform's robust portfolio, including Threads, drives strong growth with positive revenue outlook.

From Nasdaq: 2024-07-08 11:38:00

Meta Platform’s META shares have surged 52.5% year to date, driven by a robust portfolio including Threads, Reels, Llama 2, Ray-Ban Meta smart glass, and Quest 3. Threads, with 175 million monthly active users, emphasizes strong communities. AI plays a critical role in boosting engagement on Threads, Facebook, and Instagram.

META continues to expand its social media platform, Threads, focusing on real-time user interactions and diverse content. Threads is gaining popularity in India, reflecting its ability to foster community engagement. META also partnered with Nasscom to launch an AI program for MSMEs in India, aiming to empower tech-enabled enterprises.

Meta Platforms is ramping up its generative AI capabilities with Meta Llama and plans to launch Meta AI in multiple countries. Yet, monetizing these AI services poses a challenge for revenue growth. META projects second-quarter revenues between $36.5 billion and $39 billion, with a 19.22% year-over-year growth in revenue estimates.

META is currently ranked #3 (Hold) by Zacks. Other tech stocks to consider include Arista Networks (ANET) and Dropbox (DBX) as Zacks Rank #1 (Strong Buy), while Garmin (GRMN) is a Buy. Arista Networks has seen a 55.5% gain year-to-date, with Garmin up 26%, and Dropbox declining by 24.3% in the same period.

Zacks highlights a little-known chemical company with significant growth potential, pointing out its soaring 2022 earnings estimates and stock repurchasing program. This stock has the potential to surpass other high-growth stocks in the market, offering investors an opportunity for substantial returns.



Read more at Nasdaq: Meta Platform’s (META) Strong Threads Portfolio Drives Growth