5 Best Tech Stocks to Buy According To Billionaire Laffont

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

Coatue Management’s Stake Value: $1.63 Billion
Percent of Portfolio: 7.97%
Number of Hedge Fund Holders: 225

Meta Platforms, Inc. (NASDAQ:META) has been one of the brightest spots of Coatue Management’s portfolio following its dismal showing in 2022. The stock is already up by more than 100%, having cemented its position as a social networking giant. Meta growth not only comes from Facebook, its flagship app, but Instagram, WhatsApp, and recently, Threads, which counts millions of daily active users.

Consequently, Meta Platforms, Inc. (NASDAQ:META) has evolved to become one of the most influential technology titans and one of the best tech stocks to buy, according to billionaire Laffont. The company is firing on all cylinders thanks to a booming advertising business that has recovered from the impact of the Apple app tracking transparency issue. In addition, Meta Platforms, Inc. (NASDAQ:META) is increasingly pursuing opportunities for growth around artificial intelligence technology as it also focuses on augmented reality. 

Meta Platforms, Inc. (NASDAQ:META) was a part of 225 investors’ portfolios at the end of Q2 2023 compared to 220 in the previous quarter. As of June 30, Tiger Global Management LLC is the largest investor in Meta Platforms, Inc. (NASDAQ:META) and has a position worth $2.46 billion.

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