Meta Platforms: Robust Core Supports The Superintelligence Pursuit

Meta's Q2 2025 earnings smashed expectations, driven by robust ad business and AI advancements, sending shares to all-time highs. Despite heavy AI infrastructure and Reality Labs investment, Meta remains highly profitable and continues to deliver strong shareholder returns via buybacks and dividends. My valuation model shows Meta is slightly overvalued at current prices, with a 5-year CAGR below our 15% hurdle rate.