Facebook and Instagram parent Meta Platforms (NASDAQ: META) experienced incredible share-price gains over the past year. Last August, the stock was at a 52-week low of $274.38, but in July of this year, it had nearly doubled to a high of $542.81.
But unlike many tech stocks benefiting from the fervor around artificial intelligence (AI), Meta's stock price rise was primarily driven by its outsized success in digital advertising. The industry experienced an upswing in 2023 as spending on digital ads shot up 12% year over year, driving revenue growth for Meta.
Now, the company's share price has pulled back from its high along with the broader stock market's recent decline. Does this dip create a buy opportunity? Here's a look at Meta to answer that question.
Source Fool.com