Most investors likely recognize Meta Platforms (NASDAQ: META) as the social media titan that reaches more than 3.8 billion people monthly through Facebook, Messenger, Instagram, and WhatsApp. They also probably know it's struggled over the past year with Apple's (NASDAQ: AAPL) pr
Nvidia (NASDAQ: NVDA) just rocked the technology world. The company provided an outlook for its second quarter that Wedbush analyst Dan Ives called "guidance for the ages."
The analysts covering Nvidia NVDA are struggling to come up with superlatives to describe the chipmaker’s blockbuster quarterly results. Coming into Nvidia’s May 26th quarterly numbers, many analysts saw some upside to consensus e
The NASDAQ 100 After Hours Indicator is up 10.41 to 14,308.82. The total After hours volume is currently 77,561,915 shares traded.The following are the most active stocks for the after hours session: Intel Corporation (INTC) is unchanged at $29.00, with 4,233,908 shares traded.
Friday, May 26, 2023The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Chevron Corp. (CVX) and Acce
This week the U.S. debt ceiling once again took center stage, as multiple meetings between lawmakers failed to produce a resolution. A divided central bank also put pressure on sentiment, with an upward revision to gross domestic product (GDP) and better-than-expected jobs data
A U.S. judge on Thursday approved Apple Inc's $50 million class-action settlement resolving consumer claims over certain defective MacBook keyboards, in a ruling that spurned challenges to the deal.
Many investors actively seek dividend stocks, and who can blame them? Nothing beats making money while you sleep. But when investing in dividend-paying companies, there is always the risk that these corporations will reduce or suspend their payouts altogether. Choosing the right
The world of artificial intelligence (AI) is moving at a breakneck speed, and top corporate and political leaders are trying to safely guide its evolution. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) CEO Sundar Pichai met with European Commissioner for the internal market Thierry Bre
Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability an
The SPDR S&P 500 ETF Trust (
SPY
), a top
ETF that closely follows the S&P 500 (
SPX
) index, consists of over 500 companies from different market sectors. The SPY ETF stock has advanced over 9% year-to-date, and the
technical indicators indicate further upside potential.
According to TipRanks’ technical analysis tool, SPY ETF stock’s 50-Day EMA (exponential moving average) is 408.93, while its price is $414.65, making it a Buy. Further, the moving average convergence divergence (MACD) indicator also signals a Buy.
Meanwhile, its RSI (Relative Strength Index) is 48.55, implying a Neutral signal. At the same time, SPY’s price rate of change (ROC) of 1.47 points to a bullish trend.
In a nutshell, SPY is a Buy based on TipRanks’ easy-to-read technical summary signals (which combine the moving averages and the technical indicators into a single, summarized call).
Is SPY a Buy, Hold, or Sell?
SPY has a Moderate Buy analyst consensus rating on TipRanks, and the average price target of $470.15 implies 13.39% upside. Among the 6,174 analysts providing ratings on
505 holdings of SPY, 59.15% have given a Buy rating, 35.34% have assigned a Hold rating, and 5.51% have given a Sell rating.
Moreover, according to TipRanks’ Smart Score System,
SPY has a smart score of eight, which indicates that the ETF could outperform the broader market over the long term.
Ending Thoughts
ETFs provide investors with a smart option to diversify risk by investing in a bunch of companies across sectors. Moreover, SPY gives investors a chance to hold some of the key stocks, including Apple (
AAPL
), Tesla (
TSLA
), JPMorgan Chase (
JPM
), and Merck & Company (
MRK
), among others. Lastly, the rock-bottom
expense ratio of 0.09% makes SPY more attractive.
Disclosure
A smart beta exchange traded fund, the iShares Core Dividend Growth ETF (DGRO) debuted on 06/10/2014, and offers broad exposure to the Style Box - Large Cap Value category of the market.
Launched on 01/26/2004, the Vanguard Growth ETF (VUG) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Growth segment of the US equity market.
The metaverse is a digital realm that transcends our understanding of reality. In this three-dimensional universe, people immerse themselves in a virtual environment and connect with others in the digital world. The technology has captured the imagination of many tech companies t
Apple (NASDAQ: AAPL) has been on fire in 2023, driven higher by the remarkable resilience of the iPhone and a recovery by a broad cross section of technology stocks. Shares of the iPhone maker are up 32% so far this year, more than four times the 7% gains of the S&P 500. This
In a move that surprised some investors and analysts, Apple (NASDAQ: AAPL) signed a new multi-billion deal with Broadcom (NASDAQ: AVGO), which will drive the development of components related to 5G radio frequencies. The announcement sent Broadcom stock higher as the relationship
Compared to most investors, Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) Warren Buffett is in a class of his own. The billionaire CEO of Berkshire who took over in 1965 has overseen a cumulative gain in his company's Class A shares (BRK.A) of nearly 4,100,000% as of last weeke
Meta Platforms (
NASDAQ:META
) stock has been an unbelievable performer since bottoming out late last year, now up around 185%+ from its November lows. Though Meta's hot run has been the envy of its FAANG peers, there are still catalysts that could help extend the rally, potentially all the way to all-time highs.
Undoubtedly,
artificial intelligence (AI) and Zuckerberg's
"year of efficiency" have been responsible for a huge chunk of the relief rally. Looking forward, I'd look to the
Metaverse as the fuel that helps the stock move higher from here. Recession or not, the next few months could be exhilarating for Meta as investors pile back into a name that was severely oversold last autumn. As such, I'm staying bullish on the stock.
Meta is Harnessing the Power of AI
With the power of AI, Meta may be able to increase the value of its ads without having to track users across the internet. The company's Advantage+ suite of automation tools could change the landscape of the advertising world once again.
The suite leverages AI to create multiple ad variations to help advertisers find the one that best sticks with any user. Only time will tell how Advantage+ and other AI offerings help jolt Meta's growth. Regardless, it's hard not to be impressed by Meta's ability to innovate through trying times.
Indeed, Apple's privacy-focused iOS updates, which initially cost Meta dearly, may be to thank for pushing Meta to innovate its way out of a mess.
Meta is also getting into the hardware game, with recent news of the firm's plans to develop custom chips tailored for AI. Indeed, many big software companies have been hopping on the hardware bandwagon lately. Meta seeks to launch a new AI chip called the MTIA (Meta Training and Inference Accelerator) in 2025.
Undoubtedly, Meta's AI roadmap is impressive. The monetization possibilities seem tough to fathom at this juncture. Regardless, I still think many may be discounting the potential for AI to re-accelerate growth over the longer term. Meta isn't just a social media or metaverse company anymore; it's a serious AI contender.
June Could be a Big Month for the Metaverse
Many investors may have dismissed the Metaverse in favor of AI as the trend to bet on over the past six months. Looking ahead, the Metaverse may be due for a bit of a comeback. Many people that expect Apple (
NASDAQ:AAPL
) will unveil its mixed-reality headset at some point during its WWDC 2023 conference, which kicks off on June 5.
If it does, we might all hear about the Metaverse ad nauseam again, and that bodes well for the firms with skin in the game, most notably Meta Platforms.
Of course, it's tough to compete against a proven tech behemoth like Apple. Fintech innovators are feeling increasing pressure from the iPhone maker as it doubles down on its wallet ambitions.
In any case, the VR (virtual reality) and AR (augmented reality) markets look large enough that more than one winner will be minted from its rise over the next decade. Further, it's not hard to imagine that many investors have stuck with Meta for its strong social-media business and its ability to monetize AI rather than its metaverse potential.
Meta may have been punished in the past for blowing billions on metaverse efforts. That said, as the trend heats up again, we may see more investors start to think about such metaverse efforts in a more positive light -- not as a cash sink but as a growth initiative that could help power some serious appreciation.
Is META Stock a Buy, According to Analysts?
Turning to Wall Street, META stock comes in as a Strong Buy. Out of 46 analyst ratings, there are 39 Buys, five Holds, and two Sells. The
average Meta stock price target is $281.05, implying upside potential of 11.2%. Analyst price targets range from a low of $220.00 per share to a high of $350.00 per share.
The Takeaway: It's a Mistake to Bet Against Zuckerberg
There's no doubt that META stock has come a long way since the depths of November. Though the price of admission has surged (31.1 times trailing price-to-earnings), I still wouldn't give up on Zuckerberg's empire quite yet.
He was right to pivot Meta into a "year of efficiency," and I believe he'll be right again longer term as he steers the ship toward AI and the Metaverse.
Disclosure
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31 minutes 24 seconds ago
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