15 Stocks ChatGPT Predicts Could Make You Wealthy in 10 Years

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

Number of Hedge Fund Holders: 235

Meta Platforms, Inc. (NASDAQ:META) is one of the largest technology companies in the world. Headquartered in Menlo Park, California, it owns numerous popular social media platforms such as Facebook, WhatsApp, Instagram, and Threads. An estimated 3.2 billion people use at least one of Meta’s apps every day.

The company’s shares had an impressive return rate of 71% in 2024, comfortably outperforming the broader market on the back of strategic restructuring, advancements in AI integration, and successful streamlining of its operations. Moreover, Meta Platforms, Inc. (NASDAQ:META) has further enhanced its appeal to investors through its robust financial performance and commitment to shareholder returns.

On October 30, the company declared financial results for the third quarter of fiscal 2024. Total revenue was reported at $40.59 billion, increasing 19% year-over-year. Operating income stood at $17.4 billion, representing a margin of 43%. Net income for the quarter was $15.7 billion, growing 35% from last year. EPS was logged at $6.03, beating estimates of $5.25 per share.

CEO Mark Zuckerberg credited the results to the AI progress made on Meta’s apps and businesses, with the company seeing strong adoption of Meta AI and Llama. Advertising revenue for Q3 came in at $39.9 billion, up 18% from last year, and accounting for 98.3% of Meta Platforms, Inc. (NASDAQ:META)’s overall revenue. The company’s ability to generate handsome advertisement revenue despite the global economic slowdown continues to be a major driver behind its growth.

Meta Platforms, Inc. (NASDAQ:META) generated a free cash flow of $15.52 billion in Q3. It repurchased $8.86 billion of Class A common stock and paid $1.26 billion in dividends during the quarter. Wall Street analysts are bullish on the company with a consensus Strong Buy rating. Meta is among the stocks ChatGPT predicts could make you wealthy in 10 years.