Jim Cramer on Meta Platforms, Inc. (META) Stock: “Good Level to Buy”

We recently published a list of Jim Cramer Put These 14 Stocks Under the Microscope. In this article, we are going to take a look at where Meta Platforms, Inc. (NASDAQ:META) stands against other stocks that Jim Cramer discusses.

When a caller expressed that they are considering starting a position in Meta Platforms, Inc. (NASDAQ:META) stock, Cramer stated:

“I like your thinking very much. I think Meta’s having a great quarter. I also think that they are without a doubt the best advertising bet. What happens if he actually starts, Mark Zuckerberg starts to want to, let’s say, monetize WhatsApp? Do you know how much that darn thing’s worth? I think you got horse sense. Good level to buy.”

Photo by Timothy Hales Bennett on Unsplash

Meta Platforms (NASDAQ:META) develops technologies and applications that help individuals connect and communicate across various digital devices, including social media apps and immersive virtual and augmented reality experiences. On May 1, during an episode of Mad Money, Cramer discussed the company as he said:

“[Talking about the market’s gains] Led by two of these mega caps, the Microsoft and Meta platforms, we’re reminded of how the mega caps got so big to begin with. It’s their scale, their smarts, their moats, their balance sheets, and their sensational products. […] Meta Platforms jumped $23, 4.23%. Spectacular gains, tremendous outlooks, tremendous! […]

As good as Microsoft was, believe it or not, I thought Meta was better. Mark Zuckerberg has cracked the code in terms of trying to make digital advertising work for anyone, any company. […]  He’s so confident when I heard that I wanted to start a new business just to see if it worked.

Even better, I could see where any company that advertises on television would be best off just giving a huge chunk of those ad dollars to Meta, not linear TV because it’s true. The performance is clearly better. […] because spending patterns and brand loyalty start with the teens.

A teen lead can be worth 10 times the lead of an older person. If you want to reach teens, you got to go to Zuckerberg. You got to go to Meta. So, if you’re a big consumer package goods company, you can simply give all your money to Meta, fire most your internal ad people, drop your expensive ad agency, and save yourself a fortune. […] It was just incredible. Not only that, but Zuckerberg talked about monetizing the asset that’s potentially the best thing Meta owns. WhatsApp! More than three billion people use this as a principal communications platform and it costs nothing. That could change, and it could give the company a gigantic new revenue stream. This was an all systems go quarter.”

Overall, META ranks 1st on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of META as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than META and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.