Meta will be the top-performing mega-cap internet stock in 2023 after sliding 64% last year, says Jefferies

Jan 9 2023 by Business Insider

 
Mark Zuckerberg announcing the Meta rebrand from Facebook in 2021.

Eric Risberg/AP

Meta will be the best-performing of mega-cap internet stock in 2023, Jefferies predicted on Monday.  Revenue upside from the company's Instagram Reels will be among the drivers for the stock. Meta shares tumbled 64% in 2022 in an overall dismal year for tech shares. 

Meta will emerge as the top-performing mega-cap internet technology stock this year, said Jefferies, which foresees short videos on its Instagram...

Continue Reading Meta will be the top-performing mega-cap internet stock in 2023 after sliding 64% last year, says Jefferies