"Shares of Meta Platforms have advanced 13% year to date, bringing its market value to $1.6 trillion. Meanwhile, shares of Google parent Alphabet have advanced 64%, bringing the company's market value to $3.7 trillion. Three top hedge fund managers bought both stocks in the third quarter. Israel Englander of Millennium Management added 793,500 shares of Meta Platforms and 2.2 million shares of Alphabet. Both stocks rank among his top 10 holdings."
"JPMorgan Chase analyst Dough Anmuth recently wrote, "Meta is in rarified air across the combination of scale, growth, and profitability, as the company's massive reach and engagement continue to drive network effects, and its targeting abilities provide significant value to advertisers.""
"Meta has a strong presence in two industries: digital advertising and smart glasses. It owns three of the four most popular social media networks, which lets it collect user data and target media content. That advantage has made Meta the second-largest ad tech company in the world. But the company has also taken an early lead in the nascent smart glasses market."
Large stakes in Alphabet and Meta were acquired by top hedge fund managers in the third quarter, with Alphabet rising 64% to a $3.7 trillion market value and Meta rising 13% to $1.6 trillion. Israel Englander, Ken Griffin, and Philippe Laffont added millions of shares across both companies, placing them among their top holdings. All three managers outperformed the S&P 500 over the past three years. Meta combines digital advertising reach — owning three of four major social networks and ranking as the second-largest ad tech company — with an early position in smart glasses and investments in AI and proprietary semiconductors.
Read at The Motley Fool
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