"Laffont made some interesting trades during the second quarter. He sold 76,900 shares of Meta Platforms , a popular artificial intelligence stock that has beat the S&P 500 by 16 percentage points this year. He also added 998,900 shares of The Trade Desk , the worst-performing stock in the S&P 500 year to date."
"Meta Platforms owns three of the four most popular social media networks in the world as measured by monthly active users: Facebook, Instagram, and WhatsApp. In total, those web properties draw 3.4 billion people daily, which makes Meta an indispensable advertising partner for countless brands. Indeed, it is the second largest ad tech company in the world. Meta is successfully using artificial intelligence (AI) to deepen user engagement across its social media sites."
"Meta Platforms reported strong Q2 financial results that beat estimates on the top and bottom lines. Revenue increased 22% to $47.5 billion, an acceleration from 16% growth in the prior quarter. Operating margin expanded 5 points, and generally accepted accounting principles ( GAAP) earnings jumped 38% to $7.14 per diluted share. Investors have good reason to think that momentum will continue."
Philippe Laffont is founder and portfolio manager at Coatue Management, a hedge fund that nearly tripled S&P 500 returns over three years. Laffont sold 76,900 shares of Meta Platforms and added 998,900 shares of The Trade Desk during the second quarter. Meta Platforms owns Facebook, Instagram, and WhatsApp, which attract 3.4 billion daily users and position Meta as the second-largest ad tech company. Meta is using AI to deepen engagement, with recommendation improvements cited as boosting time spent by 5% on Facebook and 6% on Instagram. Meta reported Q2 revenue up 22% to $47.5 billion and GAAP earnings up 38% to $7.14 per share.
Read at The Motley Fool
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