5 Stocks That Will Skyrocket

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

Number of Hedge Fund Holders: 225

Huge investments in AI, dominance in the social platforms industry and innovative advertising models remain some of the key catalysts that could boost Meta Platforms stock to higher levels in the next 5 to 10 years. Recently the company posted strong Q3 results. The stock, however, wavered, mainly due to the company’s commentary after the earnings in which the management sounded “cautious,” according to many analysts. This cautious approach, according to analyst firms like Jefferies and William Blair, was mostly due to the latest geopolitical conflicts and macro environment that could affect the company’s ads demand. However, in the long term the stock remains solid.

Aristotle Large Cap Growth Strategy made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:

“Meta Platforms, Inc. (NASDAQ:META), formerly known as Facebook, is a global technology company specializing in social networking and the development of augmented and virtual reality technologies. Founded in 2004 and headquartered in Menlo Park, CA, the company has expanded its reach to nearly three billion monthly active users worldwide.

We see Meta as well-positioned to capture a significant share of the rapidly growing digital advertising market and has created an interconnected ecosystem of apps that drives higher user engagements. While leveraging AI and machine learning technology, Meta should see an acceleration in the development of targeted digital advertising capabilities and enhance the user experience across its platform. We see near-term catalysts in Rising Reels and Messenger revenue monetization and an expected robust 2024 political and Olympic advertising. Year-to-date, investors have been optimistic about the company’s pivot away from a focus on metaverse investments to an emphasis on profitability and growth in what the company calls its “Year of Efficiency.””