UNBELIEVABLE: Can the rally continue for meta platforms - The Untold Story

After plunging more than -64% in 2022, shares of Meta Platforms (META) are up +134% this year and are the second-best-performing mega-cap technology stock this year, behind Nvidia (NVDA).  Although Meta Platform’s share price has more than tripled from its 7-1/2 year low in November, its valuation is still reasonable compared to its history and its peers.  Also, analysts project Meta’s revenue will return to growth this year and then accelerate in 2024.

Accuvest Global Advisors believes there is still more upside ahead for Meta Platform’s shares, saying, “It has a very positive revenue trajectory, a very positive cash flow trajectory, the capex plan is more attractive, and it continues to have this great seat in the category.”  While the rally in Meta Platforms was initially fueled by aggressive cost cutting, the focus has turned to the boost to revenue provided by the Reels platform, Meta’s answer to TikTok.