Meta Platforms, Inc.

Meta Platforms operates social networking and communication apps including Facebook, Instagram, WhatsApp, and Messenger. Revenue is primarily generated from digital advertising shown across these platforms. The company is also investing heavily in virtual and augmented reality hardware and software under its Reality Labs segment.

Notes

• Large, global user base across multiple apps

• Ad business exposed to macro and privacy/regulation trends

• Long-term bet on the metaverse and immersive computing