5 Best App Stocks to Buy Today

3. Facebook, Inc. (NASDAQ: FB) 

Market Cap: $964 billion
Popular Apps: Instagram, WhatsApp, Messenger, Oculus VR

Facebook, Inc. (NASDAQ: FB) is one of the widely used social media and networking services based in America. The company owns some of the most famous apps, including Instagram, Messenger, Oculus VR, WhatsApp, etc. In Q1 2021, the total number of MAUs of the company rose by 10% year-over-year and stood at $2.85 billion. Facebook, Inc. (NASDAQ: FB) generates revenue mainly through advertisements. In 2020, the ad revenue accounted for 98% of the total revenue of the company. 

In Q1 2021, Facebook, Inc. (NASDAQ: FB) reported a 48% growth in its revenue, compared to the prior year at $26 billion. Instagram is the leading social media app by Facebook, Inc. (NASDAQ: FB). The app generated $13.86 billion in 2021 in add revenues in 2020 and is expected to reach $18 billion in 2021. The messaging service, WhatsApp is also used in over 180 countries and was downloaded 13 million times in April 2021. Along with these, Facebook, Inc. (NASDAQ: FB) also owns the VR company Oculus, a video monetization app LiveRail, and an Israeli mobile web company Onalu. The company to increase the revenue through ads in its virtual reality headsets by Oculus. 

The FB stock has shown maximum growth, soaring by 40.9% in the past year and 26.9% year to date. Earlier this year, Morgan Stanley raised the price target of FB stock to $340. 

Like Electronic Arts Inc. (NASDAQ: EA), Zynga Inc. (NASDAQ: ZNGA), and Alphabet Inc. (NASDAQ: GOOG), Facebook, Inc. (NASDAQ: FB) is one of the best app stocks to buy today. 

In its Q1 2021 investor letter, ClearBridge Investments mentioned Facebook, Inc. (NASDAQ: FB) along with other stocks. Here is what the firm has to say: 

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”