From Nasdaq:

After a major rally in 2023, Meta Platforms (NASDAQ: META) has nearly returned to its all-time highs, defying Wall Street’s previous doubts in the company from 2022. The Meta brand is more than just social media and the metaverse, as it utilizes a global data center network to help small businesses reach customers. The upcoming earnings report for Q4 2023 on Feb. 1 is expected to show strong revenue growth, despite Apple’s privacy changes affecting Meta’s ad monetization on its devices.

Mark Zuckerberg’s “year of efficiency” in 2023 is contributing to the success of Meta Platforms. The company is focusing on cutting back expenses and generating more profitable revenue growth. Share repurchases and positive Q3 2023 earnings have already shown success, and Meta is expected to continue these efforts into 2024.

Despite its high stock price on a backward-looking basis, Meta Platforms could be a value investment based on its current profitability. With its focus on data centers and AI, Meta is well positioned for another successful year in 2024.

The Motley Fool Stock Advisor team has identified what they believe are the 10 best stocks for investors to buy now, and Meta Platforms wasn’t one of them. The Stock Advisor service has more than tripled the return of S&P 500 since 2002, and the 10 stocks that made the cut could produce significant returns in the coming years. (URL: https://www.fool.com/mms/mark/e-foolcom-sa-bbn-dyn?aid=8867&ftm_cam=sa-bbn-evergreen&ftm_veh=bbn_article_pitch&ftm_pit=13445&source=isaeditxt0010848)



Read more: Meta Platforms Stock Rallied Nearly 200% Last Year — Is It Too Late to Buy for 2024?