What bear market? This top tech analyst sees 50% upside in Meta

Controlling some of the largest social media and messaging apps in the world — Facebook, Instagram, WhatsApp and Messenger — Meta is a tech gorilla commanding hundreds of billions of dollars of market cap.

In the internet sector, value is even harder to find. According to data from NYU Stern School of Business, internet stocks currently boast an average P/E of 84.with your spare changeIn 2019, Meta’s P/E ratio was 33. Today, thanks to the stock’s recent plunge, it has a P/E in the mid-teens, representing a substantial discount from both its historical average and the sector’s current sky-high multiples.

Oculus rose to the No.1 most downloaded app in the App Store on Christmas Day, suggesting that VR adoption is indeed going mainstream.

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