If You Invested $1,000 In This AI Stock When David Tepper's Appaloosa First Entered, You'd Have Over 3X Your Money Today
Portfolio Pulse from Surbhi Jain
Since David Tepper's Appaloosa Management first invested in Meta Platforms Inc (NASDAQ:META) in Q1 2016, the stock has risen about 232%, with a current trading price around $365. Tepper increased his investment in September 2023, with META now comprising 8% of his portfolio. Over the past year, META stock is up 172%. Analysts remain bullish, with recent price target increases from Mizuho, BMO Capital, and Wedbush, citing AI advancements and profitability as key drivers.
January 17, 2024 | 2:51 pm
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Meta Platforms Inc's stock has significantly appreciated since Tepper's Appaloosa Management invested in 2016. Recent analyst upgrades and Tepper's increased investment signal continued confidence in META's growth, particularly in AI.
The positive sentiment from analysts and a significant increase in Tepper's investment portfolio suggest a bullish outlook for META in the short term. The focus on AI and profitability, along with recent price target raises, are likely to continue driving investor interest and potentially the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100