A nearly 15% decline in the growth-driven Nasdaq Composite from its record high is a blessing in disguise for opportunistic long-term investors.
Shares of Meta Platforms (NASDAQ: META) were moving higher as the Facebook parent benefited from a pair of positive analyst notes out on the stock this morning. This morning, Citigroup opened a "positive catalyst watch" on Meta, heading into its Connect event on Sept. 27-28, which will include the launch of the Meta Quest 3 as well as new offerings around artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and the company's metaverse technology. Citi analyst Ronald Josey said he was looking out for details on the company's generative AI plans and expects to see a strong third-quarter earnings report as it gains market share in the broader digital advertising environment.
Meta Platforms (NASDAQ:META), the social media heavyweight, is projected to witness a significant surge in stock value over the next quarter, according to Citi analyst Ronald Josey's forecasts. This anticipated rise is linked to a rebound in advertising and the company's investment in artificial intelligence (AI).