Three Social Media Stocks for Long-Term Growth

Adobe (ADBE) is an American multimedia company based in California that provides services in digital marketing and creative software systems. With over 60% of the application development market share, Adobe has shown strong financial performance. In the second quarter of 2024, the company reported a revenue of $5.31 billion, a 10% increase year-over-year (YOY), and a net income of $1.57 billion, up over 20% YOY. Adobe has raised its full-year revenue outlook to $21.45 billion. Despite relatively slower growth compared to other tech giants, Adobe’s ability to attract new customers and its strong financials make it an attractive investment option.

Meta (META), the parent company of major social media platforms like Instagram, WhatsApp, and Facebook, has been a dominant player in the industry since its founding in 2004. Meta stock has seen significant growth, with a 50% increase this year and an 82% increase over the past 12 months. The company has recently started distributing dividends and announced a $50 billion share buyback program. While some investors may have concerns about Meta’s aggressive investment in AI, the company has successfully integrated generative AI into its social media platforms. There is potential for further growth, making Meta a viable long-term investment option.

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