5 Best Tech Stocks to Buy For The Long Term

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

Number of Hedge Fund Holders: 224

Meta Platforms, Inc. (NASDAQ:FB), the leading top-tier company that is set out to revolutionize the way we interact with the web today, is among the top three tech stocks to buy for the long term. The latest trend in the technology sector is the Web3.0 and the metaverse, and Meta Platforms, Inc. (NASDAQ:FB) is one of the most dedicated companies in the space. Among the company’s already offered metaverse products we have Horizon Workrooms, Horizon Worlds, and the Oculus Quest 2 which is one of the most advanced VR headsets for immersive virtual experiences. This March, Mark Zuckerberg announced that Meta Platforms, Inc. (NASDAQ:FB) is working on support for NFTs on Instagram.

Legendary value investors and expert analysts alike see upside potential for Meta Platforms, Inc. (NASDAQ:FB) in the near as well as the long term. On March 10, Deutsche Bank analyst Benjamin Black initiated coverage of Meta Platforms, Inc. (NASDAQ:FB) with a Buy rating and a $265 price target. By the end of the fourth quarter of 2021, Meta Platforms, Inc. (NASDAQ:FB) was a part of 224 hedge fund portfolios. The total stakes of these funds amounted to $31.84 billion.

As of April 5, 2022, Fisher Asset Management is the top shareholder in Meta Platforms, Inc. (NASDAQ:FB). The fund’s stakes were valued at $3.22 billion, up 27% from its previous stakes of $2.56 billion in Q3 2021. The investment covers 1.8% of Fisher Asset Management’s Q4 2021 investment portfolio.

Davis Funds mentioned Meta Platforms, Inc. (NASDAQ:FB) in its fourth-quarter 2021 investor letter. Here is what the firm had to say:

“Within the traditional growth category, growing euphoria has led to bubble prices for many companies, most especially those with new and unproven business models such as those discussed above. In contrast, our research focuses on a select handful of proven growth stalwarts whose shares still trade at reasonable valuations. For example, because of concerns about future litigation and regulation, several dominant internet businesses, including Meta (formerly Facebook), trade at steep discounts to many unproven and unprofitable growth darlings that, in our view, trade at euphoric prices. While we expect a continued barrage of negative headlines around the company, as well as increased regulation in the years ahead, we do not expect a significant decline in its long-term profitability.”