After a rally that just won’t stop, are you still reluctant to buy Meta Platforms (NASDAQ:META)? Get over it! There’s much more room to grow and gain value from Meta Platforms. The final months of 2023 should be outstanding for META stock and its investors, and 2024 could be another year for the buyers to remember and the sellers to regret.
Among other things, Meta Platforms derives value from its powerful partnerships. For example, the company opened up its generative artificial intelligence (AI) large language model (LLM), Llama 2, for commercial use with Microsoft (NASDAQ:MSFT) and other large-scale cloud providers.
As we’ll discover, that’s not Meta Platforms’ only crucial collaboration. As Meta networks with other industry giants, META stockholders will continue to win, and the skeptics will just have to step aside.
Meta Platforms Tries Out a New Feature
META stock is a huge company, but it’s not too big to benefit from an agreement with America’s e-commerce juggernaut, Amazon (NASDAQ:AMZN). On that topic, Meta Platforms is, per a Bloomberg report, testing out a feature that allows its users to purchase “Amazon products directly from ads on Instagram and Facebook.”
It’s a simple process for Instagram and Facebook users. They must link their Amazon accounts to their Instagram/Facebook profiles. With that, according to an Amazon spokesperson, shoppers “will be able to shop Amazon’s Facebook and Instagram ads and check out with Amazon without leaving the social-media app.”
This arrangement should benefit both companies and the customers as it makes the shopping experience quicker and more convenient. In time, we may have more data to show how the collaboration with Amazon might bolster Meta Platforms’ bottom line.
One Catalyst After Another for META Stock
In case that’s not enough, there’s another bullish catalyst in the works for Meta Platforms. Specifically, the company has a preliminary agreement with Tencent (OTCMKTS:TCEHY) to sell virtual reality (VR) headsets in China.
This is significant for more than one reason. First of all, Tencent is a behemoth in China. The company has vast holdings in the social networking, internet services, payment systems, and video gaming markets.
In other words, having a partnership with Tencent in China is as impactful as having one with Amazon in the U.S. Besides, Meta Platforms has been seeking inroads into the Chinese market for a while. China blocked Facebook and Instagram years ago, according to the U.S. International Trade Commission (via Bloomberg).
Additionally, Meta Platforms could find success with its VR headsets in China after seeing lackluster results in the U.S. Maybe the Tencent collaboration will be Meta’s opening into a potentially lucrative, multinational market for metaverse-compatible equipment.
Only Buy META Stock if You Like Winning Trades
Short-selling META stock shares have been a losing trade for a long time. However, hesitating to buy the stock has also been a losing trade. Why fight the trend when you can win and be a META stock?
After all, you can’t argue with Meta Platforms’ value-added partnerships. Meta is too successful and powerful for smart investors to ignore in 2023 and 2024. So, get in the winner’s circle if you haven’t done so already, and grab some shares of META stock.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
