Meta Platforms (META) in Wally Weitz's Multi Cap Equity Fund Q2 2024

AI Innovation and Social Media Strength Fuel Growth

Apr 15, 2025

Summary

AI development and social media business drive strong performance.
Positioned as a top contributor to the fund's year-to-date performance.
Continues to benefit from robust advertising revenue.

In Wally Weitz's Multi Cap Equity Fund 2nd-Quarter Commentary 2024 Q2, Meta Platforms (META, Financial) was noted for its significant contribution to the fund's performance. The company's advancements in artificial intelligence and the continued strength of its social media platforms have been key drivers of growth.

"Meta Platforms and Alphabet have garnered favor given their position at the vanguard of artificial intelligence development, while their 'traditional' ad-supported businesses continue to demonstrate strength and drive healthy business value growth." — Wally Weitz, Multi Cap Equity Fund, Q2 2024 Fund Letter

Read full letter at gurufocus Wally Weitz's Multi Cap Equity Fund 2nd-Quarter Commentary 2024 Q2 page.

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