10 Best Stocks To Invest In According to Billionaires

4. Meta Platforms Inc (NASDAQ:META)

Number of Billionaire Investors: 32

Meta Platforms, Inc. (NASDAQ:META) is a leading tech company known for its popular products like Facebook, Instagram, and WhatsApp. In addition to social media, it is a leader in AR/VR technology.

On September 23, Roth Capital expressed a positive outlook on Meta Platforms, Inc. (NASDAQ:META), citing strong growth in the company’s cost per thousand impressions (CPMs). Data from advertising agencies shows Meta’s CPM growth accelerating from 27% year-over-year in Q1 to 36% YoY in Q2, with Q3-to-date figures reflecting a 40% YoY increase. This consistent rise in CPMs, climbing from $5.62 in Q1 to $6.94 in Q3, signals robust demand for advertising on the company’s platforms.

Additionally, BofA Securities maintained its Buy rating, expecting Meta Platforms Inc. (NASDAQ:META) to launch new AI chat options and features for WhatsApp and Messenger. The firm also anticipates updates on Llama, Meta’s open-source language model, at an upcoming developer event. Additionally, Meta Platforms Inc. (NASDAQ:META) ended the second quarter with a strong cash position, holding $58.1 billion in cash, cash equivalents, and marketable securities. The company’s free cash flow for the quarter reached $10.9 billion, easily covering the $1.3 billion in dividends distributed.

According to Insider Monkey, 32 billionaires held stakes in Meta Platforms Inc. (NASDAQ:META) as of the most recent quarter.

Rowan Street Capital mentioned Meta Platforms, Inc. (NASDAQ:META) in its second-quarter 2024 investor letter:

“We are pleased to report that Meta Platforms, Inc. (NASDAQ:META), our largest position in the fund, has delivered a remarkable performance, +450% since our November 2022 note. Our investment in Meta dates back to 2018, with an average cost basis of approximately $172 per share. Today, the stock trades around $535, reflecting a 3x return over the six-year holding period, equating to a 20% annualized return.

We would like to remind you that achieving these types of returns is never a straight path. From time to time, we might experience volatility — that’s simply part of the investment journey. In fact, wealth creation and volatility go hand in hand. There’s no escaping it; it’s the “price of admission” the market demands. If you take a look at the chart below, you’ll notice the drawdowns META stock has faced over the years, with 2022 standing out as a particularly challenging period, where the stock saw a 75% drop…” (Click here to read the full text).