Don't Call It a Comeback: Amazon Is Here to Stay
When it comes to technology stocks in 2023, it seems like investors are hearing corporate executives emphasize two concepts in particular: artificial intelligence (AI) and profitability.
For example, after investing heavily in metaverse ambitions, Meta Platforms seemingly lost sight of its core advertising business and experienced shrinking revenue and profit. Subsequently, investors punished the stock, prompting Chief Executive Officer Mark Zuckerberg to declare 2023 as Meta's "year of efficiency." Moreover, both Alphabet and Microsoft have invested substantial sums into generative AI as each looks for a leg up in the area.
For Amazon (NASDAQ: AMZN), leadership has echoed themes similar to its FAANG cohorts. The last several quarters have been rough for the e-commerce giant as operating losses were beginning to mount. However, the company's second-quarter 2023 earnings report had several highlights and very few lowlights, if any.
Source Fool.com
Meta Platforms Inc. Stock
With 8 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 500 € there is a slightly positive potential of 15.69% for Meta Platforms Inc. compared to the current price of 432.2 €.
