Time to Buy Meta Platforms? Its New AI Strategy Could Silence Skeptics.
Ever since February, Meta Platforms (NASDAQ: META) has been on a strategic push to integrate artificial intelligence (AI) into everything it does. While rival tech companies Microsoft and Alphabet have thus far dominated the headlines when it comes to introducing new ChatGPT-style innovations, it now looks like Meta Platforms is finally starting to catch up. At a companywide meeting in early June, Meta CEO Mark Zuckerberg highlighted some of the "incredible breakthroughs" on the way.
In its pivot to AI, Meta Platforms is starting to unveil new innovations at a rapid clip. Some of them are designed to augment the company's core business, of course, but others hint at entirely new product lines and entirely new revenue streams. That could be big for the company's future valuation. Let's take a closer look.
The core use case for AI is to bolster Meta's existing products. At the companywide meeting in Silicon Valley, Zuckerberg detailed how generative AI might be able to improve the company's most popular products. What if you could modify your Instagram photos via text prompts? Or what if Meta could add AI chatbots with unique personalities to its existing Messenger and WhatsApp products?
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 10 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 16.33% compared to the current price of 429.8 € for Meta Platforms Inc..
