5 Most Profitable Cheap Stocks to Buy

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

Net Income (TTM) as of December 31, 2022: $23.20 billion

Meta Platforms, Inc. (NASDAQ:META) ranks #4 on our list of 11 Most Profitable Cheap Stocks to Buy given its net income of $23.20 billion for the last four quarters. Although the social media giant’s profit for the last year is considerable, Meta Platforms, Inc. (NASDAQ:META)’s net income would have been even higher if the company had not spent substantial amounts building the metaverse. In the fourth quarter, the company’s Reality Labs lost $4.28 billion, bringing the unit’s total losses to $13.72 billion for 2022. If the metaverse is a success financially, Meta Platforms, Inc. (NASDAQ:META) could benefit in the long term. Shares currently have a forward P/E of 15.41.