Meta stock is a 'top pick' and could soar 20% as the social media giant leans into the AI hype, analysts say
over the past reporting period, representing the first revenue growth it's seen over the last year.
The improved outlook is largely due to Meta incorporating more AI into its services, analysts say, which has the potential to boost future earnings. AI chat services could trim customer support costs and make Facebook messaging more affordable for smaller businesses, according to Deepwater Asset Management's, who estimated that AI-supported chat functions could make up as much as 15% of Meta's revenue by the year 2025.
Munster added that higher engagement stemming from AI would be key to the company's growth – which appears to be on the uptrend. Daily active users across Meta's platforms increased to 4.1% in the last quarter, up from 3.7% at the end of 2022, Munster notes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Snap stock falls more than 20% on revenue missRevenue drops 7% to $988.6 million from $1.06 billion a year ago.
Read more »
Cloudflare stock plunges more than 20% after revising guidance downThe company issued muted guidance for the full-year and upcoming quarters that sent shares down, despite posting a beat on the bottom line.
Read more »
From Loewe Bags to Dries Van Noten Denim Jackets, 20 New Arrivals to Get Excited ForSee what's in our editors' shopping carts for the week:
Read more »
20 Years Later, Lizzie McGuire’s Magical Mundanity Lives On'The Lizzie McGuire Movie' continues to resonate with viewers today for its positive message about saying 'yes' despite uncertainty.
Read more »
Baseball Top 20, April 26: A familiar face reclaims residency in the penthouseA look at the top teams in New Jersey high school baseball
Read more »
Coroner IDs 20-year-old killed in central Pa. shootingNo arrests have been made in the Sunday night homicide.
Read more »