Meta Platforms' Growth Is Being Driven by Chinese E-Commerce Companies. Here's Why It's a Red Flag for Amazon's Future.
Meta Platforms (NASDAQ: META) stock sank to a seven-year low of $88 last November. At the time, investors were disappointed with the decline of its advertising business -- which had struggled with Apple's privacy changes on iOS, fierce competition from ByteDance's TikTok, and other macro headwinds -- and its commitment to burning billions of dollars to expand its unprofitable Reality Labs segment.
But if you had bought Meta when all of the bulls retreated, you would be sitting on an unrealized gain of nearly 240% today. That rapid recovery was driven by its ad revenue, which finally rose year over year in the first two quarters of 2023 and ended a three-quarter streak of year-over-year declines.
Image source: Meta Platforms.
Source Fool.com
Meta Platforms Inc. Stock
€482.95
0.750%
With 8 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 510 € there is a slightly positive potential of 5.6% for Meta Platforms Inc. compared to the current price of 482.95 €.
