Prediction: This AI Stock Could Be Worth $1 Trillion by 2027
A couple of years ago, Facebook parent Meta Platforms (NASDAQ: META) was a trillion-dollar company. However, the tech giant has lost a substantial amount of its value over the past two years. (Meta's market cap is $672 billion as of this writing.) Still, there are excellent reasons to think the social media specialist can rejoin the exclusive group of corporations worth $1 trillion, as the company has plenty of growth opportunities, including using artificial intelligence (AI) to render parts of its business more profitable.
Let's dig into why Meta has a good chance of clocking the compound annual growth rate of about 10.4% it needs in the next three years to become a trillion-dollar stock again.
AI and its applications come in many different shapes and sizes. There are a few ways in which Meta Platforms is getting in on the act. First, the company is using AI-based recommendations across its websites and apps. Meta Platforms now has over 3 billion daily active users. Analyzing its users' data, preferences, and patterns allows AI to recommend relevant content.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 9 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 16.17% compared to the current price of 430.4 € for Meta Platforms Inc..
