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We recently published a list of 10 Stocks in Wall Street’s Watchlist. In this article, we are going to take a look at where Meta Platforms, Inc. (NASDAQ:META) stands against other stocks in Wall Street’s watchlist.
Dan Niles, Niles Investment Management founder, in a latest program on CNBC reiterated his concerns about a slowdown in AI spending and said that major technology companies were already facing the impact of a downbeat trend in the industry before the tariff wars started:
“When the MAG 7 reported the December quarter or calendar Q4, six of the seven had their March revenue estimates already cut. So think about that for a second. But the thing is, when the Fed’s cutting like it was last year, nobody cares, right? If the stocks are going up, the charts look good. Why worry about fundamentals or valuations?,” Niles said. “Because the stocks are going higher. So looking forward, I expect all the estimates to come down yet again for the June quarter. When these companies report the March quarter, they were already having troubles when they reported the December quarter before all this tariff stuff kicked in.”
Niles said that companies were buying more ahead of the China tariffs because they expected that duties were coming from the US.
“You can just see that from the China export data already, where for China as a whole, in the month of March, exports were up 12.4%. People were expecting 4.6%. So that’s a massive beat there. And so you can already tell demand’s being pulled forward. So my thought was there was a payback period coming anyway.”
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In.
For this article, we picked 10 stocks Wall Street analysts have been talking about lately. With each stock, we have mentioned its hedge fund sentiment. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Investors: 235
Steve Weiss, Founder and Managing Partner of Short Hills Capital Partners, explained in a latest program on CNBC why he’s buying more Meta Platforms, Inc. (NASDAQ:META) shares:
“I said this when the stock was trading at the highs—it was overvalued, and I knew it would correct because it just couldn’t maintain that valuation. That was euphoria on Trump’s win, which was obviously misplaced. So I was willing to suffer for it coming down, and I had trimmed. I had a super-sized position, and I had trimmed a little bit.