#1 - Meta Platforms (NASDAQ:META)
You can’t have a list of metaverse stocks without the company that literally changed its name to signal its commitment to the metaverse. Meta Platforms (NASDAQ:FB) is already committing $10 billion into building the metaverse. And you have to believe that’s just a starting point.
It’s not surprising that Meta would be looking to the metaverse. Ever since the company bought Oculus Rift in 2014, they’ve had access to a leading virtual reality (VR) hardware platform that comes with games like Horizon Woods that are a glimpse into what the metaverse may look like.
And did you think it was a coincidence that Facebook wanted everyone to change their profile picture to an avatar? If you did, you may be seeing how the social media giant may be eyeing the next generation of social media.
After the most recent sell-off by a market spooked by the threat of higher interest rates, FB stock is trading 39% than its all-time high set in September. Investors can buy the stock for levels not seen since the summer of 2021. Even if you don’t believe in the metaverse, at this level the stock looks oversold.
About Meta Platforms
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
Read More - Current Price
- $471.91
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 39 Buy Ratings, 3 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $509.80 (8.0% Upside)
