Top 5 Growth Stocks in Billionaire Philippe Laffont’s Portfolio

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

Stock Upside Potential: 49.09%

Number of Hedge Fund Holders: 256

Coatue Management’s Stake Value: $2,496,426,714

Meta Platforms, Inc. (NASDAQ:META) is one of the top growth stocks in billionaire Philippe Laffont’s portfolio. On April 1, Bank of America touted Meta Platforms, Inc. (NASDAQ:META) as one of the top stock recommendations after the recent sell-off in the broader equity market.

According to the research firm, Meta is one of the companies well-positioned to benefit from market and business catalysts in the coming quarters. One of the catalysts expected to fuel a rally is a resolution around the Iran conflict that has acted as a major headwind.

Analysts at Citizens support similar sentiments and have also reiterated a Market Outperform rating on the stock with a $900 price target. The bullish stance comes on the heels of Meta confirming it will fund seven new natural gas power plants as part of its expanded partnership with Entergy. The power plants are to supply power to the company’s Hyperion AI data center campus, focused on compute workloads.

On the other hand, reports indicate Meta has paused its work with Mercor after a recent data breach at the AI training startup. The breach is reported to have exposed proprietary training data belonging to some of the world’s prominent AI laboratories.

Meta Platforms, Inc. (NASDAQ:META) builds technologies that help people connect, find communities, and grow businesses through social media, AI, and immersive technologies. Its core apps include Facebook, Instagram, Messenger, and WhatsApp, while its hardware division produces Meta Quest VR headsets and Ray-Ban Meta AI smart glasses.