Billionaire Ray Dalio’s Top 5 Technology Stock Picks

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

Bridgewater Associates’ Stake Value: $112,426,000

Percentage of Bridgewater Associates’ 13F Portfolio: 0.56%

On October 26, Meta Platforms, Inc. (NASDAQ:META) posted earnings for the third quarter of fiscal 2022. The company reported an EPS of $1.64 and generated a revenue of $27.71 billion, ahead of Wall Street consensus by $313.82 million. As of September 30, Ray Dalio’s Bridgewater Associates has a position worth $112.4 million in Meta Platforms, Inc. (NASDAQ:META) and the stock is one of Ray Dalio’s top tech stock picks.

Meta Platforms, Inc. (NASDAQ:META) is presenting an attractive buying opportunity for long-term investors and is trading at a PE multiple of 10x, as of November 14. The company is profitable and also efficient at making profits for shareholders. Meta Platforms, Inc. (NASDAQ:META) has a trailing twelve-month operating margin of 30.09% and an ROE of 22.40%.

This November, Baird analyst Colin Sebastian reiterated an Outperform rating on Meta Platforms, Inc. (NASDAQ:META) and his $150 price target. On November 9, Itau BBA analyst Thiago Kapulskis raised his price target on Meta Platforms, Inc. (NASDAQ:META) to $120 from $102 and maintained an Outperform rating on the shares.

Here is what  Distillate Capital Partners LLC had to say about Meta Platforms, Inc. (NASDAQ:META) in its third-quarter 2022 investor letter:

“The largest exited positions in the quarter includes Meta Platforms, Inc. (NASDAQ:META). Meta saw its free cash estimates deteriorate enough that its valuation fell below the threshold for inclusion. Similar to our prior presentations, one way to visualize the current portfolio and note recent changes versus the benchmark is to look at scatter plot of all of Distillate’s FSV holdings versus those in the benchmark with valuation on the vertical axis and free cash ϲow stability on the horizontal axis.”