10 Best NASDAQ Stocks to Buy According to Billionaires

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Funds: 262

Number of Billionaire Investors: 36

Value of Billionaire Holdings: $32,459,738,389

Meta Platforms, Inc. (NASDAQ:META) is another American technology company focused on building and operating social platforms. It is known for its family of apps including Facebook, Instagram, and WhatsApp. The company operates through two main business segments including the Family of Apps and Reality Labs, through which the company engages in the development of VR, AR, and mixed reality hardware and software.

On April 30, Bank of America Securities analyst Justin Post maintained a Buy rating on the stock with a price target of $640. Post highlighted the company’s advancement in AI and particularly likes its open-source approach. The analyst noted that the company has made significant investments in artificial intelligence and has positioned itself as one of the leaders with its Llama large language models.

Moreover, At recent events Such as LlamaCon, Meta Platforms, Inc. (NASDAQ:META) showcased the Llama model’s broad capabilities and cost advantages over its competitors. The flexibility and range of tools available for building and scaling AI applications are expected to drive further adoption across industries. Meta Platforms, Inc. (NASDAQ:META) is one of the best NASDAQ stocks to buy according to billionaires.

Nightview Capital stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its Q4 2024 investor letter:

“Core Opportunity: Meta Platforms, Inc.’s (NASDAQ:META) platforms—Instagram, Facebook, WhatsApp, and Messenger—reach nearly half the world’s population daily, making it one of the most powerful advertising ecosystems globally. With investments in AI and augmented reality (AR), we believe Meta is also creating significant optionality for long-term growth.

Competitive Advantage: Thriving Core Platforms: In Q3, we saw Meta achieve a 23% YoY revenue growth,—a testament to strong user engagement across its ecosystem. The advertising landscape as a whole continues to evolve and we believe Meta’s existing platforms offer a defined advantage in this new world. Existing platforms in the age of AI continue to be the most powerful indicator of future success in our opinion.

AI Leadership: Meta’s AI capabilities and the Llama AI model are driving efficiency and product innovation. In our view, these assets have been under-appreciated by the market while enhancing Meta’s ability to further scale and innovate its leading advertising business…” (Click here to read the full text)