Jim Cramer’s Top 5 Stock Picks for 2023

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

YTD Stock Performance Through November 22: +170%

In February, Jim Cramer said that there was a time when he was “hurt” seeing Meta Platforms, Inc. (NASDAQ:META)’ results but he did not lose hope as he believed there was a path forward for the company via discipline and cost cutting. Cramer said that’s exactly what Mark Zuckerberg achieved and Cramer was pleased to see the Q4 2022 results of the social media giant.

Meta Platforms, Inc. (NASDAQ:META) has indeed surprised everyone this year. Meta Platforms, Inc. (NASDAQ:META) started to use AI to improve its algorithm and increase engagement on its platforms. Meta Platforms, Inc. (NASDAQ:META) has gained about 170% year to date through November 22.

Weitz Investment Management Large Cap Equity Fund made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q3 2023 investor letter:

“As for other quarterly contributors, Alphabet, Inc., (GOOG) and Meta Platforms, Inc. (NASDAQ:META) added to their exceptional year-to-date returns. Meta Platforms and Alphabet were the true year-to-date standouts. After steep declines in 2022, both stocks rebounded sharply due to a combination of solid fundamentals, disciplined operational execution, and improved sentiment. Despite outsized gains and attention, we think both Alphabet and Meta remain undervalued.”

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