20 AI News and Analyst Ratings You Should Not Miss

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

Number of Hedge Fund Holders: 219

Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. The company recently coordinated the penning of an open letter to the European Union, authored by senior executives at several tech firms, which warned the EU that it risked missing out on the full benefits of AI due to tech rules that invited inconsistent regulatory decision making. Per news publication The Wall Street Journal, nearly two dozen firms signed the letter, which noted that AI could boost productivity and expand the economy, but Europe may reap fewer rewards of this.

DA Davidson recently initiated coverage of Meta Platforms, Inc. (NASDAQ:META) stock with a Buy rating and $600 price target. The investment advisor called Meta a top pick within the mega-cap space, citing its combination of emerging leadership in the most important future technology platforms and an attractive relative valuation. Per analysts at DA Davidson, aside from Alphabet, Meta was the least expensive mega cap, even before factoring for the option to sever Reality Labs losses, which would take the multiple down to 16-times, thus providing downside protection.