Meta Platforms (NASDAQ: META) has made a roaring comeback on the stock market in 2023. This is thanks to favorable economic data points like cooling inflation and a reduction in the pace of interest rate hikes by the Federal Reserve. Meta's focus on reducing costs this year and better-than-expected results released earlier this month that easily exceeded Wall Street's expectations are also reasons for Meta's comeback.

These factors have led to an impressive 45% jump in shares of Meta so far this year. But will this social media and digital advertising giant be able to sustain its momentum for the remainder of the year and head higher in 2023? More importantly, should savvy investors consider buying Meta stock at its current valuation with the expectation of solid gains in the long run? Let's try to find out where Meta Platforms could be after three years to see if it's worth buying.

Digital advertising is Meta Platforms' largest source of revenue. Meta's advertising business produced $114.4 billion in revenue in 2022 out of its total revenue of $116.6 billion. However, the segment's revenue was down from 2021 levels of $115.6 billion, thanks to a marked deceleration in digital ad spending growth last year.

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Source Fool.com