Technical Analysis: Meta
Meta Platforms (META) is a conglomerate engaged in AI, advertising, social media, virtual reality and many other verticals. Meta has surged ~65% year-to-date significantly outpacing the S&P500’s 20%. This performance is largely due to AI advancements, specifically with the Llama model and advancements in VR with Oculus. Despite this growth and a strong fundamental valuation Meta stock has fallen 7.5% since earnings due to most casual investors exiting after higher capital expenditures were announced over the next one to two years. However, we believe that this is a temporary correction and that the trend will reverse fueled by a strong fundamental valuation, a good technical outlook and reasonable trading multiples, prompting us to set our short term (two to three weeks) price target at 610$ reflecting our expectations of a bull run. Check out our technical analysis to see how we set our target!
