14 Best American Tech Stocks to Buy Now

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

Number of Hedge Fund Holders: 262

Meta Platforms, Inc. (NASDAQ:META), previously named Facebook, Inc., is an American multinational technology corporation that owns and operates Facebook, Messenger, Instagram, Threads, and WhatsApp. The company also offers a range of other devices, products, and services that are powered by AI and immersive technologies. Meta Platforms, Inc. (NASDAQ:META) ranks among the best American stocks to buy right now.

On April 10, Piper Sandler analyst Thomas Champion reduced the firm’s price target on Meta Platforms, Inc. (NASDAQ:META) from $775 to $610 but maintained an “Overweight” rating. This adjustment reflects a cautious stance due to the company’s exposure to e-commerce and China. Champion cited performance checks with an Ad Buyer that were considered the best in the group, and focused on Meta Platforms, Inc.’s (NASDAQ:META) Q2 revenue guidance of $42.5 billion to $45.5 billion, representing an increase of 9 to 16.5% year-over-year. The analyst also expects the company’s management to reiterate their fiscal year 2024 operating expense forecast of $114 to $119 billion and capital expenditures forecasted at $60 to $65 billion. Additionally, updates on Meta Platforms, Inc.’s (NASDAQ:META) advancements in AI, particularly Llama 4 and the agentic opportunity, are anticipated. The revised price target is also based on reduced revenue estimates for 2025 and 2026, which have been lowered by 2% and 4%, respectively.