Buy: Meta Platforms
$109.46, big tech with a long fall from grace : Meta Platforms is a US technology company providing online social platforms for international users. Meta's share price has fallen significantly over the last year due to its slowing revenue growth and unpopular investment in virtual reality. I believe that the earnings estimates priced in by the markets are too low, and that risk-reward is overweight towards the upside. Forex pressures are easing: A key factor for Meta's slowing revenue growth is the recent strength of the US dollar. With US interest hikes set to ease mid-next year, I expect a weakening of the US dollar, which would help Meta's earnings next year. The venture into the Metaverse may be a problem, but it is a self-inflicted problem: In Q3 2022, 39% of all operating income produced by Meta’s core business went into the Metaverse. The spending on its Metaverse investments and operating losses from those investments have been suppressing Meta's earnings. This...