Forget the Metaverse: Meta Platforms Stock Is a Screaming Buy for These Reasons Instead
Meta Platforms (NASDAQ: META) has been lambasted by investors and Wall Street analysts this year for its intense focus on developing a virtual world: the metaverse. Its Reality Labs segment burned over $9.4 billion on the project in 2022 alone, denting the company's earnings at a time when its business is already suffering the effects of the weak economic environment.
But I want to focus on Meta's family of apps -- which includes Facebook, Instagram, and WhatsApp -- because they still bring in 98% of the company's revenue. Meta is releasing swathes of new features across these flagship platforms, proving its innovation engine is alive and well.
Investors should pay attention because Meta Platforms stock is down 66% from its all-time high. That might be a big long-term opportunity if the company's recent changes resonate with users, and its track record suggests they will.
Source Fool.com
