If you’re seeking exposure to the metaverse, plus the latest and greatest in artificial intelligence technology, consider adding some Meta Platforms (NASDAQ:META) shares to your portfolio. Our META stock analysis indicates that, even after an impressive run in 2023, this year could be just as rewarding for patient shareholders.
Maybe you’ve already heard about Meta Platforms’ excellent fourth-quarter 2023 financial results. Meta Platforms recently announced its first dividend. Clearly, the buyers are in the driver’s seat and the short-sellers are asking for trouble. Stick around and we’ll show you even more reasons Meta Platforms stock fully deserves an “A” grade.
Meta Platforms Bolsters Its Board With an AI Authority
Meta Platforms CEO Mark Zuckerberg has made it crystal clear that he’s “playing to win” in the field of AI. Meta Platforms is developing an in-house, AI-capable data-center chip, called “Artemis.”
If you’re still not convinced that Meta Platforms and Zuckerberg are front-runners in the AI wars, then check this out. Reportedly, Meta Platforms is adding Broadcom (NASDAQ:AVGO) CEO Hock E. Tan to Meta’s board of directors.
Meta Platforms will add John Arnold, the co-founder and co-chair of Arnold Ventures, to its board. Both Tan and Arnold can certainly bring their expertise and know-how to Meta Platforms. However, Tan’s appointment is notable since Meta Platforms can tap into his insights in the field of AI-chip technology.
Zuckerberg remarked, “As we focus on building [artificial general intelligence], having directors with deep expertise in silicon and energy infrastructure will help us execute our long-term vision.”
Of course, Zuckerberg is referring to Tan and Arnold in that statement. It’s just another signal that Zuckerberg and Meta Platforms won’t back down or give up an inch in the ongoing AI-chip wars.
Zuckerberg Takes Aim at Apple
META stock offers portfolio exposure to social media and AI technology, but also to the metaverse. On that topic, Zuckerberg is making it known that Meta Platforms is prepared to go head-to-head in the metaverse-gear market, even against a famous competitor.
Reportedly, Meta Platforms’ chief executive verbally took aim at rival Apple’s (NASDAQ:AAPL) virtual reality (VR) headset. Of course, we can’t really call Zuckerberg an unbiased reviewer of Apple’s headset.
Nevertheless, Zuckerberg made some notable points. First and foremost, Meta Platforms’ Quest 3 VR headset costs $499. In contrast, Apple’s Vision Pro VR headset costs a jaw-dropping $3,499.
With such a wide price difference, you might assume that Apple’s VR headset would be much better than Meta Platforms’ headset. However, Zuckerberg feels that his company’s headset is not only much more affordable, but actually superior:
“I was surprised by how many tradeoffs [Apple] had to make to the quality of the device… I’m pretty surprised that Quest is so much better for the vast majority of things that people use these headsets for.”
We’re not here today to take sides in the debate over which headset is better. What’s important is that, because Apple’s VR headset is so much more expensive than Meta Platforms’ headset, Apple will now have the burden of proving to the customers that its headset is worth the ultra-high price.
META Stock Analysis: Catch the Wave of AI Momentum
Our META stock analysis is highly positive for several reasons. Meta Platforms’ recently released quarterly results were outstanding, and the company now offers dividend distributions.
Besides, Zuckerberg and Meta Platforms are ambitiously pursuing AI technology while offering a reasonably priced VR headset. Meta Platforms stock earns an “A” grade and has the potential to move higher throughout 2024.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
