The old Facebook rallied over 3% overnight as it continues to outperform, supported by its strong earnings report delivered early last month when it announced its inaugural dividend – sales jumped 25% over the year with EPS of $5.33, well above the $4.96 expected. This stellar result has taken the stock above $US500, but we feel another period of consolidation, as we saw in 2H of 2023, is close at hand – another stock we would put in the “buy the dip” bucket.
- META can trade significantly higher over the coming years, but some short-term consolidation is near, but surprises are likely with the trend, which is clearly up.
MM is bullish towards META US medium-term
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