5 Best Robinhood Stocks According to Billionaires

4. Meta Platforms Inc (NASDAQ:META)

Number of Billionaire Investors: 32

Meta Platforms Inc (NASDAQ:META) is also among the stocks that stand to benefit from the AI revolution. Meta Platforms Inc (NASDAQ:META) already impressed the Wall Street with its financial numbers and growth earlier this year as Mark Zuckerberg’s plan to use AI to boost Reels engagement and improve recommendation algorithm seems to be working.

Oppenheimer recently released its AI predictions report in which it said companies would improve generative AI models and make them more efficient, which would result in cost declines. The firm said this phenomenon would help Meta Platforms, in addition to some other major stocks.

 A total of 32 billionaires had stakes in Meta Platforms Inc (NASDAQ:META) as of the end of the third quarter of 2023. Some famous billionaires with stakes in Meta Platforms Inc (NASDAQ:META) were  Rajiv Jain, Ken Fisher, Andreas Halvorsen and DE Shaw.

Here is what Claret Asset Management has to say about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:

“We have mentioned in the last letter that the “magnificent seven”, including Meta Platforms Inc.,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”