While Meta Platforms (NASDAQ:META) is a giant among social media titans, the company can continue to evolve and grow. As META stock develops features to enhance its already robust apps, META stock can head much higher even after posting supersized gains in 2023.

Furthermore, as discussed momentarily, a prominent analyst group determined that Meta Platforms is well positioned to benefit from generational trends. So, add at least a few Meta Platforms shares to your portfolio and hold on for powerful long-term returns.

Invest in a Social Media Champion With META Stock

With its Facebook, Messenger, Instagram, WhatsApp, Threads and Reels apps, Meta Platforms is truly a social-media behemoth. One reason Meta Platforms stays ahead of its peers is because the company constantly seeks ways to improve its social media platforms.

For example, Meta Platforms just introduced some new privacy features. First, Meta is allowing users to fully encrypt their chats and calls on Facebook and Messenger. This end-to-end encryption feature will be enabled by default during the next update for these platforms.

WhatsApp has already encrypted its users’ messages, by the way. And speaking of WhatsApp, this platform is adding a disappearing voice messages feature. With this option, WhatsApp users can set the app to allow a voice message to be played only once before it’s gone forever. This is a valuable feature for users seeking to ensure their privacy.

Moreover, Meta Platforms recently introduced “imagine,” an artificial intelligence (AI) based text-to-image building tool with its own dedicated website, imagine.meta.com. Users can create images from text prompts with this “imagine” tool. Then, they can collaborate with friends to modify the images and create new ones.

Meta Platforms: A ‘Clear Leader’ in Social Commerce

There’s no doubt that META stock is a social commerce leader among young consumers in 2023. What about the years to come, though? On that topic, TD Cowen researchers determined that Meta Platforms will continue to dominate the social-commerce space.

TD Cowen analysts estimate that Millennials and Generation Z (or “Zoomers”) stand to inherit $60 trillion in collective wealth by the year 2050. That’s a lot of purchasing power, so investors should consider preparing for this generational wealth shift.

A simple way to do this is to buy and hold META stock. TD Cowen analyst John Blackledge identified Meta Platforms as one of the “clear leaders” in social commerce during the next five to 10 years.

I agree 100%. Whichever companies command the attention of the youth today, can control their spending patterns now and in the future. Meta Platforms maintains the attention of Millennials and Zoomers by updating its apps with features that are experimental now but will soon be considered essential. This includes advancing AI technology, which Meta Platforms develops relentlessly to keep its rivals at bay.

Hold a Few META Stock Shares for Years or Even Decades

If you’re concerned that Meta Platforms is overvalued after a stellar rally this year, that’s understandable. There’s certainly no need to over-invest in Meta Platforms.

On the other hand, it makes sense for forward-thinking investors to hold at least a small position in META stock. Meta Platforms will, very likely, command the attention of Millennials and Zoomers for the rest of the 2020s. As a result, Meta can tap into a multi-generational source of wealth, and thereby provide ongoing value to the shareholders.

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.