Meta Stock Soars 70% in 2023 After Earnings Beat and AI Investment Bets Pay Off
• Meta Platforms stock (META) has rallied over 70% year-to-date and 170% in the past 12 months • Shares surged over 20% after strong Q4 earnings results, beating expectations on revenue and EPS growth • The stock recently broke out above a three-weeks-tight pattern, which is a bullish continuation signal • Meta is investing heavily in AI and computing power to support future growth initiatives • Analysts expect strong EPS growth of 52% in 2024 and 10% in 2025