Posted 12/19/2023, 4:44:32 PM
Meta's VR Struggles Offset By Rebounding Ad Business, 'Strong Buy' Rating
- Virtual reality (VR) and augmented reality markets are in decline, with sales of related hardware down 40% as of November 2022
- Meta Platforms is spending billions on these markets but seeing little interest and sluggish sales
- However, Meta's digital advertising business (Facebook, Instagram) shows signs of rebound
- Meta has 45.6% projected EPS growth in 2023, beyond the industry average of 39.7%
- Despite VR struggles, analysts rate Meta stock as Strong Buy with average price target 10.5% above current levels