In its Q2 2026 investor letter, Wedgewood Partners highlighted Meta Platforms, Inc. (NASDAQ:META).
Meta Platforms, Inc. (NASDAQ:META), the parent company of dominant social media platforms, is a multinational technology company that develops products to connect people
On July 16, 2026, Meta Platforms, Inc. (NASDAQ:META) closed at $664.54 per share, reflecting a market capitalization of $1.68 trillion. Meta Platforms, Inc. (NASDAQ:META) posted a one-month return of 10.12%, while its shares lost 9.75% over the past 52 weeks. Wedgewood Partners stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its Q2 2026 investor update: “Although Microsoft, Amazon, and Meta Platforms, Inc. (NASDAQ:META) have different business models and were not necessarily top drivers of performance during the quarter, we view their investment opportunity set, from both a compounding and returns perspective and a component-cost hedge perspective, as similar to Alphabet’s.
Last but not least in the capex spending bonanza is Meta Platforms. While they have certainly received its share of criticism for recently increasing its 2026 capex plans by around $10 billion, citing DRAM inflation, we’d like to point out that the warrants Meta holds on Advanced Micro Devices (AMD), related to a strategic sourcing arrangement with AMD struck in late February (~5 months ago), are now worth close to $90 billion, by our estimate (a swift nine times more than the incremental DRAM inflation for 2026). Meta’s sourcing advantage from its massive scale gives it the bargaining power to keep commodity cost inflation in check, which investors are so worried about.