Nasdaq Sell-Off: Buy the Dip on This "Magnificent Seven" Stock Before It Takes Off
The performance of the "Magnificent Seven" has been a bit of a mix bagged this year, with some performing well and others, not so much. This group of high-profile tech companies includes Alphabet, Apple, Amazon, Microsoft, Meta Platforms (NASDAQ: META), Nvidia, and Tesla.
Facebook parent Meta Platforms has been one of the better performers in this clique -- the stock is up by a solid 42% since the year started. However, the company is having a rough month -- shares are down 6% in the last 30 days. How long will the company keep falling? It's hard to say, but whatever happens in the short run, Meta Platforms is set to bounce back eventually and deliver excellent results in the long run.
Meta Platforms' market capitalization is just under $1.3 trillion as of this writing. The company has produced market-beating returns in the past decade. However, the social media specialist still has plenty of growth opportunities. Consider its core business, advertising, where it generates most of its sales. In the second quarter, Meta Platforms' total revenue was $39.1 billion, up 22% year over year. The company's advertising revenue was $38.3 billion.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 8 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 4.52% compared to the current price of 478.4 € for Meta Platforms Inc..
