5 Tech Stocks to Buy According to Billionaire Jim Simons’ Renaissance Technologies

 2. Meta Platforms Inc. (NASDAQ:META)

Renaissance Technologies Stake Value: $884,482,000

With 2.5 billion monthly active members, Meta Platforms Inc. (NASDAQ:META) is the biggest online social network in the world. The company’s ecosystem primarily consists of the Facebook app, Instagram, Messenger, and WhatsApp, as well as numerous features surrounding these products. More than 90% of the company’s total income comes from advertising, with 50% coming from the United States and Canada and 25% from Europe.

During Q2 2022 Meta Platforms Inc. (NASDAQ:META) the company generated revenue of $28.8 billion, down 0.85% from the same quarter last year. The company reported diluted earnings per share of $2.46, missing the consensus estimate by $0.09.

Renaissance Technologies Stake Value in Meta Platforms Inc. (NASDAQ:META) at the end of Q2 2022 stood at $884,482,000, making the company rank 2nd on our list of 10 Tech Stocks to Buy According to Billionaire Jim Simons’ Renaissance Technologies.