In what is a monumental development for the tech company, Meta (META) stock has reached an all-time high price as its Facebook platform has seen ad revenue surpass the $100 billion mark. The company has enjoyed a tremendous week that saw the stock price reach a record $629.84 on Wednesday.
That performance is expected to be just the beginning for the company this year. With emerging AI businesses on the horizon and the highly anticipated Orion augmented reality glasses expected to debut in 2025, the company will have a plethora of reasons to become a must-buy stock for Wall Street.
Also Read: META AI Could Drive $10B Revenue Growth in Massive Sign for Stock
It has certainly been a tremendous year for a host of technology stocks. With NVidia (NVDA) and Apple (APPL) duking it out for the position atop the world’s market cap rankings, investors are continuing to prop up companies embracing emerging technologies like AI and cloud-based computing.
One that has certainly benefitted is META, as the stock has recently hit a new all-time high amid an ad revenue milestone. Indeed, the company’s performance has seen it outdo its December record close of $623. Yet, there are expectations that the stock could go up from here, with a bright year ahead.
Also Read: Apple (APPL) to Take On Meta As They Eye Key Expansion
Since 2022, META has produced 83% returns, which is a testament to its success. Moreover, the Mark Zuckerberg-led firm has tremendous gross profit margins at 81%, which has propelled its stock more than 91% over the past year. A massive part of its reach has been the success of its social media platforms.
Instagram, WhatsApp, and Facebook are still the creme of the crop. Moreover, the latter is currently on pace to surpass $100 billion in ad revenue with more than 2.2 billion users. Data shows that the platform is on pace to hit $112 billion in advertising revenue by 2026. Moreover, they would become only the second media company to surpass the 11-figure mark since Google did it in 2020.
