In any CEO interview, you always learn something to invest in. I wanted to give you my four immediate impressions of what I saw tonight from Meta CEO Mark Zuckerberg. 1. We got a new and positive reading on the reels. Zuckerberg told us that the short video producer is ahead of the plan and that a surprising percentage of Facebook is now on video. Advertisers love video. They love TikTok. To me, it looks like Zuckerberg is about to make Tiktok as irrelevant as Snap (SNAP). I know this is tough: TikTok should generate $12 billion in revenue this year. But the growth that Zuckerberg has been talking about with Rails tells me that there is a real opportunity for a breakout – which will happen sooner rather than later. This is not in numbers. 2. The metaverse is further than you think. We know the metaverse is a long-term project for the company. But I felt it was way ahead of what anyone would have thought now. Advertisers want to log in and sign up every day. Tell us — again, news — that the Quest 2 VR headset has been selling better than expected. Zuckerberg’s confidence in generating metaverse revenue sooner has allowed the company to slip past its developer hits into 2024. This is a very smart way to get the best out of creating the most compelling content. 3. Metaverse is great for work – watch out for Zoom. Third, I know that the uses of leisure, travel and entertainment, as well as retail and education, are the main things I have in my mind. But there’s one thing worth thinking about: In the metaverse, you can have side conversations with someone the group hasn’t heard of. This, combined with the 3D nature, will make it use more often than you think at work, especially working from home. I think Zoom is a great product. But we are minimized. Meeting in the metaverse is going to take up space very quickly, once we all have avatars. The avatars themselves are funny. You can wear whatever you want. Mark put me in a suit and the artists looked dressed. Take it where you can get it. I think the most important uses would be for those who are alone and don’t want to be alone. Mark and I talked at length about the simple pleasure of watching what a friend or relative is watching. This is not going to make a dead much money. You have to think about money the way you think about paying for Fortnite items with V-Bucks. If writers can create wonderful things – and we know they can – money must fall from heaven for that thing. 4. More buybacks…Mark’s last answer was very clear. There is plenty of room to invest, research and buy back shares, so they will be in the market buying. They spent $20 billion last quarter on buybacks. I think it will be more this quarter given how far the plan seems to be. I think the analysts would be happy to learn more about the reels and video and would be happy to become a more viable alternative to TikTok in such a short time. I remain committed to believing that the metaverse is a trillion dollar opportunity. I wish I could buy some META now. (Jim Cramer’s Charitable Trust is a long META. See here for a full list of stocks.) As a CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a share in his charitable fund portfolio. If Jim talks about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. The above investment club information is subject to our Terms and Conditions and Privacy Policy, along with our disclaimer. No fiduciary obligation or duty will be created, or be created, by virtue of your receipt of any information provided in connection with the Investment Club. There are no specific results or guaranteed profit.
Mark Zuckerberg, CEO of Meta Platforms, appeared on CNBC’s “Mad Money” with Jim Cramer on June 22, 2022.
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In any CEO interview, you always learn something to invest in. I wanted to give you my four immediate impressions of what I saw tonight from Meta CEO Mark Zuckerberg.
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