10 Best American Stocks To Buy For Foreign Investors

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 219

Meta Platforms, Inc. (NASDAQ:META) is a major company in the communications sector since it operates the world’s largest social network. The main revenue growth driver for the company is online advertising, which Meta Platforms, Inc. (NASDAQ:META) does exceptionally well through its numerous social media platforms.

With the rise of AI and advertisement demand, Meta Platforms, Inc. (NASDAQ:META) has only made its business model and growth more robust. The company’s revenue grew by 22% year-over-year in the second quarter, because of these factors. Meta Platforms, Inc. (NASDAQ:META) is also gaining a lot of popularity because of its immense contributions to generative AI development, with the company calculated to have ramped up spending on this development to over $20 billion annually.

There were 219 hedge funds long Meta Platforms, Inc. (NASDAQ:META) in the second quarter, with a total stake value of $42.5 billion.