With the deadline for Chinese-owned ByteDance to divest from TikTok or face a nationwide ban in the US approaching, Hamilton Capital Partners chief investment officer Alonso Munoz joins Julie Hyman on today’s installment of Good Buy or Goodbye to take a closer look at two big social media names looking fill a potential gap: Meta Platforms (META) and Snap (SNAP). Meta is “a company that investors can get excited about, not just the value of having a big company, but also that reacceleration in growth [seen in the recent quarter],” Munoz says. Meta’s investment in artificial intelligence (AI) infrastructure “should be returned hopefully as shareholder value over the next three to five years,” he says, adding that CEO Mark Zuckerberg’s virtual reality projects could also benefit the company. The strategist adds that Meta’s short-form video feature, Instagram Reels, could gain if TikTok is banned. Munoz says say goodbye to Snapchat parent company, Snap, citing intense competition among social media companies, weak fundaments, and a lack of innovation: “If we look underneath the surface, it’s a company that operates at a net loss. They’re really digging themselves out of a hole. They don’t have as many users as other big companies. And frankly, their user base are generally younger consumers that have less wallet share.” Catch more of Yahoo Finance’s Good Buy or Goodbye by clicking here.
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