12 Best FAANG+ Stocks to Invest in Right Now

6. Meta Platforms Inc. (NASDAQ:META)

Number of hedge funds: 235

Meta Platforms Inc. (NASDAQ:META) focuses on providing social media platforms and virtual reality services. The company operates platforms such as Facebook, Instagram, WhatsApp, Messenger, and Threads, and also sells wearables like Oculus headsets, aiming to connect people and build communities through its services. It generates nearly all its revenue from selling advertising placements on its family of apps (FoA) to marketers. It boasts a substantial user base, with an average Family daily active people (DAP) of around 3.35 billion. Its market cap currently stands at $1.7 trillion, up from $510 billion five years ago.

In late January 2025, Meta Platforms Inc. (NASDAQ:META) reported robust Q4 2024 results, with sales surging 21% year-over-year (YoY) to $48.4 billion, driven by a 6% increase in ad volumes and a 14% rise in ad pricing. Net income surged by an impressive 50% YoY due to better operating leverage. The company plans to invest $60-65 billion in its generative AI efforts and improving core businesses, which should further position it for long-term growth.

In recent years, Meta Platforms Inc. (NASDAQ:META) has been investing heavily in the development of the metaverse, a virtual environment where users can interact, work, and entertain themselves. The company is aggressively using AI to create new experiences that make its platforms more social, useful, and immersive, while also improving monetization. One of the company’s key focuses has been its pivot towards augmented reality (AR) and virtual reality (VR) technologies, which are greatly enhancing user experiences and are expected to drive future growth. With a strong user base and innovative advertising solutions, Meta Platforms Inc. (NASDAQ:META) is well-positioned to capitalize on the growing demand for digital advertising and immersive experiences.