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Key News Facts
Meta Platforms (NASDAQ: META) is actively investing in artificial intelligence (AI) and aims to develop the most advanced AI products and services, with over 1 billion monthly active users of its AI assistant already. The company’s shares are currently trading at 24 times forward earnings estimates, making it the cheapest among the “Magnificent Seven” tech stocks.
In contrast, Nvidia and Palantir Technologies have seen revenue growth driven by AI, with Palantir’s stock trading at an exceptionally high valuation of 229 times forward earnings. Meta, which owns platforms such as Facebook and Instagram, reported that 3.5 billion people globally use at least one of its services daily, significantly contributing to its advertising revenue.
Despite a modest increase of only 8% in 2023, Meta presents a compelling investment opportunity as other AI stocks experience rising valuations, positioning it as an undervalued option in a booming sector.
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