15 Best Blue Chip Stocks to Buy According to Billionaires

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

Number of Billionaire Investors: 36

Number of Hedge Fund Holders: 262

Meta Platforms, Inc. (NASDAQ:META) builds technological products that allow people to share, connect, grow businesses, and find communities. These products help people connect through personal computers, mobile devices, virtual reality (VR), mixed reality (MR) headsets, and wearables. Most of Meta Platforms, Inc.’s (NASDAQ:META) revenue comes from its advertising business.

The company is employing AI to boost engagement on its social platforms. At the end of 2024, Meta CEO Mark Zuckerberg told investors that this tool was raising the amount of time users spend on Instagram and Facebook. Meta Platforms, Inc. (NASDAQ:META) generated a record $164.5 billion in total revenue in 2024, reflecting a 22% growth compared to 2023. Its net income also rose by 59% to a record $62.3 billion for 2024, translating to $23.86 in EPS.

In addition, fiscal Q4 2024 saw the total number of ad impressions served across Meta Platforms, Inc.’s (NASDAQ:META) services increase by 6%, while the average price per ad increased by 14%.

In a report released on April 10, Thomas Champion from Piper Sandler maintained a Buy rating on Meta Platforms, Inc. (NASDAQ:META), with a price target of $610.00. The company takes the third spot on our list of the best blue chip stocks to buy according to billionaires.

Rowan Street Capital stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its Q4 2024 investor letter:

“Meta Platforms, Inc. (NASDAQ:META): Investment Initiated: April 2018: Internal Rate of Return (IRR*): 22% *IRR represents the annualized rate of return on an investment, accounting for the timing and magnitude of cash flows over the holding period.

For META, our 22% IRR aligns closely with the company’s compounded growth in earnings per share (EPS) and free cash flow per share during the 6 years holding period.

Looking ahead, Meta is expected to grow its revenues, earnings, and free cash flow per share at mid-teens rates over the next two years. There’s a good possibility that it could exceed these estimates, considering the breadth of growth initiatives currently in place, such as advancements in Al, monetization of Reels, expansion into business messaging, and the ongoing development of the metaverse…” (Click here to read the full text)