2024 Facebook (META) Stock Analysis: Buy The Dip! Potential Savings!

Today, Chris Johnson discusses opportunities to buy Meta at a discounted price after its strong earnings announcement. Meta's recent strong earnings report has propelled its stock price 23% higher, but there is a potential opportunity to buy it at a lower price as profit-taking and market pressure may cause a pullback in the stock. The analyst community has also upgraded the target price for Meta to $530, indicating further potential growth. Investors should be patient and consider buying the stock around $420 for a potential return and upside exceeding the $530 target price.

Video Summary:

[00:00](   • 2024 Facebook (META) Stock Analysis: ...  ) Meta's earnings exceeded expectations, causing a 23% increase in stock price, but investors should wait for a potential 8-9% pullback before buying.
- Meta's earnings were 51 cents better than expected, with a revenue increase of 27%.
- The stock price increased by 23% in one day after the earnings announcement.
- Waiting for a pullback allows investors to take advantage of profit-taking by those who bought the stock before the increase.
- Warren Buffett advises against buying stocks when the crowd is overly enthusiastic.

[02:26](   • 2024 Facebook (META) Stock Analysis: ...  ) Metashares stock is expected to rise significantly, with 28 analysts upgrading their target price to $530 and the company announcing a dividend and stock buyback program.
- 28 analysts have upgraded their target price for Metashares to $530.
- The company announced a $0.50 per share dividend, which is the first ever for Meta.
- They also announced a $50 billion stock buyback program.
- The stock is expected to continue on a bullish trend and reach the target price during 2024.

[04:52](   • 2024 Facebook (META) Stock Analysis: ...  ) Chris discusses the pressure on Wall Street, the psychology of trading, and the potential for a dip in Meta stock.
- Profit takers are expected to sell and buy the dip.
- Chris is targeting a buy price for Meta shares at a 9% discount.
- The chart analysis shows Meta trading outside of its normal distribution, indicating a potential pullback.
- Chris advises against buying the stock at its peak.

[07:18](   • 2024 Facebook (META) Stock Analysis: ...  ) Chris analyzes the technical indicators of a stock and suggests waiting for a pullback before buying.
- The stock's volume spiked after the earnings announcement.
- The Relative Strength Index (RSI) is above 70, indicating the stock is overbought.
- Chris suggests waiting for the stock to cool off and pull back to around $420 before buying.

[09:44](   • 2024 Facebook (META) Stock Analysis: ...  ) Chris suggests that $420 is a good price to buy Meta shares, and predicts that the stock could potentially reach $550 or higher in the future.
- $420 is seen as a great opportunity to buy the stock, and $400 would be an even better price on a pullback.
- Wall Street, traders, and investors are attracted to round numbers, such as $500, which is the next target for the stock.
- Chris believes that Meta shares could go as far as or even higher than $550 over the next year.
- Meta has undergone a successful turnaround, and the management team has shown that they are on track.