Digital advertising is a secular growth trend that will continue to inexorably march forward over the next decade, and Facebook will be a major beneficiary.
Near-term regulatory headwinds persist, and recent commentary from Facebook’s management did nothing to decrease the uncertainty.
However, uncertainty leads to volatility, which creates an opportunity for alpha. Facebook is an incredible company with multiple growth levers, and the stock price is very reasonable at the moment.
In this article, I will share my view of the latest quarterly results and future guidance. Furthermore, I will provide an updated valuation for FB.
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