(Bloomberg) -- For years, investors valued Facebook’s parent company as if its growth would never falter. Now that it has, fund managers who buy cheap, out-of-favor stocks are finally getting a chance to own shares of Meta Platforms Inc. Most Read from BloombergRussia Defaults on Foreign Debt for First Time Since 1918Hyundai Quietly Climbs the EV Sales Charts and Elon Musk NoticesRep. Mary Miller Calls Roe Decision ‘Victory for White Life’Russia Is Hours Away From Its First Foreign Default in a
It's been a rough year for the stock market as a whole, but it's been especially rough for tech stocks. The Nasdaq Composite Index -- which tracks the tech-heavy Nasdaq -- is down close to 30% YTD as of June 23. You'd be hard-pressed to find someone who doesn't think Apple (NASDAQ: AAPL) is a good company.
Warren Buffett has become a North Star for many investors. Under his leadership, Berkshire Hathaway shareholders saw annualized returns of 20.1% between 1965 and 2021, nearly double the returns of the broader S&P 500. With the cash from Berkshire's various operations -- insurance, manufacturing, freight transportation -- Buffett has built a sizable equities portfolio.