Posted 4/10/2024, 2:28:04 PM
Meta's AI Investments Pay Off as Stock Surges 450% From Lows, Outpacing Tech Rivals
- Meta's stock has surged over 450% from its low point 18 months ago thanks to AI investments paying off with strong earnings growth
- The company is still trading at a discount valuation compared to big tech peers despite adding $1 trillion in market value
- Meta's AI advancements are driving better ad targeting and content recommendations, fueling growth
- Analysts see more upside potential for Meta vs Alphabet despite the latter's cheaper valuation
- Meta is outperforming rivals like Snap and Pinterest which have struggled amid a weakening ad market