It's been a wonderful time to be a shareholder in Meta Platforms (NASDAQ: META). After hitting a low around the start of November 2022, the business has seen its shares skyrocket nearly fivefold (as of Feb. 20). Investor enthusiasm is through the roof.

Despite this monster performance, the FAANG stock, which is near its all-time highs, trades at a forward price-to-earnings ratio of just 23.5 right now. This might prompt you to rush to buy shares.

But before you do, here are three things you must know about this dominant tech giant.

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Source Fool.com