From Nasdaq: 2024-08-02 05:50:00

Investing in AI can lead to strong growth, with companies like Google, Amazon, Microsoft, and Nvidia in the spotlight. However, Meta Platforms (NASDAQ: META) is a top contender in the AI boom, evident from its Q2 revenue increase of 22% to nearly $39.1 billion, driven by improved ad delivery and smartglasses demand.

Meta Platforms is already profiting significantly from AI, with CEO Mark Zuckerberg stating that AI is enhancing user engagement and ad impressions across Facebook and Instagram. The company’s strategic AI focus is expected to further boost revenue and product engagement, with plans to introduce personalized ad creation and AI agents for user interactions.

Investors have seen Meta’s stock soar over 40% year-to-date, making it an attractive investment. The company’s AI advancements and growth projections contribute to its attractively low PEG ratio of 1.12, positioning it as one of the top stocks to consider for AI-driven returns in the future.

For a more detailed analysis of potential investment opportunities, the Motley Fool Stock Advisor team has identified the 10 best stocks for investors to buy now, with insights on building a successful portfolio and maximizing investment returns. With Meta Platforms showing promising AI growth prospects, it’s an investment opportunity worth considering.



Read more at Nasdaq: Want to Profit From the Artificial Intelligence (AI) Boom? Buy Meta Platforms Stock.