In 2022, I bought META stocks $META because I believed they were undervalued. At the time, there was a lot of uncertainty about the metaverse, and META's stock price was reflecting that uncertainty.
However, since then, the message from META's management has changed. They are still spending money on the metaverse, but their priority is now efficiency. They are reducing their workforce and over the long term, this will save them money. 2023 is being called The Year of Efficiency.
In addition, Apple's $AAPL recent announcement that they are releasing their own VR/AR headset, Apple Vision Pro, is a validation of what Mark Zuckerberg wants to build, even if there are differences between the two visions.
META stock has recovered in 2023 and the market sees it as a growth stock again. It is still far behind its peak but we should start considering taking profits. To learn more about why and when I will take profits, please watch this video.