Was Rajiv Jain’s GQG Partners Right About These 5 Tech Stocks?

3. Meta Platforms, Inc. (NASDAQ:FB)

GQG Partners’ Stake Value: $1,921,640,000

Performance of the stock over the past 12 months: -67%

Rajiv Jain increased his stake in Meta Platforms, Inc. (NASDAQ:FB) by 24% in the third quarter, holding a total of 5.6 million shares of the company, worth $1.92 billion, representing 5.25% of his Q3 investments. 

Loop Capital analyst Alan Gould on December 20 lowered the price target on Meta Platforms, Inc. (NASDAQ:FB) to $380 from $420 but kept a Buy rating on the shares. The analyst slashed his price target owing to Meta Platforms, Inc. (NASDAQ:FB)’s excessive expenditure on building the metaverse. 

Here is what Canterbury Tollgate has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter:

“To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.

My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.

Last month the Wall Street Journal ran a five-piece series titled “The Facebook Files” which allegedly shows how toxic Instagram is for teens. The foundation of their argument was a single slide from an internal presentation claiming, based on FB’s own research, that of teens who had a negative self-image, one-third said Instagram “made them feel worse.”iii Somehow the implication here is that this is not an inescapable aspect of either the human psyche and/or society-at large, but that it is of Facebook’s doing…” (Click here to see the full text)