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), which is scheduled to report its fourth-quarter earnings on Wednesday "after taking a savage beating in 2022," according to the analyst's words.

The headwinds that the company faced last year, including Apple's privacy initiatives with App Tracking Transparency, the slowdown in advertisement spending, exorbitant investments in the metaverse, and regulatory scrutiny, are not expected to entirely dissipate in 2023. Over the past 52-weeks, Meta shares were cut nearly in half. Gains in early 2023, are helping to trim last year's losses.and other initiatives, as well as softening challenges, will be a relief this year. Additionally, in the long run, White expects Meta to benefit from the secular digital ad trend and innovations in the metaverse.

"With sales up 34% per annum over the past five years, EPS turning in a 32% CAGR and generating an attractive operating margin, we believe Meta Platforms should trade at a premium to the market and tech sector in the long run; however, we expect the current macroeconomic and geopolitical environment will weigh on advertising spending in the coming quarters," observed White, who reiterated a buy rating on the stock with a price target of $150.

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