10 Mega Cap Stocks Gaining Bullish Momentum This Week

5. Meta Platforms, Inc (NASDAQ:META)

Meta Platforms, Inc. develops products that enable people to connect and share with their family and friends through PCs, augmented reality, mobile devices, wearables, and virtual reality and mixed reality headsets. The company operates in the Reality Labs (RL) and Family of Apps (FoA) segments.

At one point earlier this month, Meta stock had lost 20% of its value after registering multiple weeks of daily gains. The stock regained a lot of that value in the last 5 trading days but there is still a lot more to go. The company announced recently that its Llama AI models had now been downloaded a billion times.

“From top tech companies to universities, people and organizations all over the world are using Llama to innovate, drive scientific advances, and unlock new economic opportunities.”

This is in line with Mark Zuckerberg’s vision of creating the largest open source AI model in the world. He is not shying away from spending enormous amounts of money to build these models, a plan that was dealt a reality check after China’s emergence with similar models at a much lower cost.

AI continues to represent the biggest opportunity when it comes to Meta. Apart from the AI models, the company has used its AI technologies perfectly in advertising. Users have started spending more on advertising as they start seeing better results thanks to AI. But that is just a small part of the bullish thesis.

If Google continues to lose advertising market share at the current pace, there could come a point where people realize they can’t reach their target market as effectively with Google as they can with Meta. That’s when the real shift will happen.