30 AI News Investors Should Not Miss

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3. 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. Pivotal Research analyst Jeffrey Wlodarczak recently initiated coverage of the stock with a Buy rating and $780 price target. In an investor note, the analyst highlighted that Meta was the dominant social media company in the world with 3.3 billion daily active users. The analyst predicted strong revenue growth for the tech firm from increased usage, new products, better targeting and higher prices, boosted by cost efficiencies and eventually materially declining Reality Labs losses combined with what appeared to be an attractive valuation.

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