Top analysts say buy stocks like Meta & Papa John’s

Investors white-knuckled their way through last week as the major averages swung sharply, fueled by key inflation reports.

On Thursday, the Dow Jones Industrial Average leapt 1,500 points from its low of the session to the highest point of the day. The major averages did an about-face Friday, with all three indexes closing with losses.

To pick the right stocks to get through this tumult, investors will need to think far beyond day-to-day volatility and dig into the details to find the long-term winners.

Here are five stocks chosen by Wall Street’s top pros, according to TipRanks, a platform that ranks analysts based on their past performance.

Facebook parent Meta Platforms (META) has been beset by challenges. These include lower ad revenues, elevated technology costs, increased borrowing costs and chip shortages. Nonetheless, its focus on the metaverse is keeping analysts hooked on the stock.

At its recent Meta Connect conference, the company announced several key VR innovations and professional integration partnerships. The conference grabbed the attention of experts, many of whom believe that the number of metaverse users has yet to reach a significant figure. (See Meta Platforms Stock Chart & Stock Technical Analysis on TipRanks)

Notwithstanding the speculations, Monness Crespi Hardt analyst Brian White remains optimistic. He believes Meta to be “the clear leader in VR.” White recalled an IDC report which revealed that Meta had captured 90% of the global VR headset market in the first quarter of this year, thanks to its Quest 2 headset sales.

“After years of reports that Apple has ambitions in the AR/VR headset space, it will be interesting to watch the leading tech players battle it out in this nascent but promising market over the next decade,” said White, reiterating his buy rating and $230 price target for the company.

White has been ranked No. 545 among almost 8,000 analysts tracked on the TipRanks platform. Moreover, 54% of his ratings have successfully generated 9% average returns each, over the past year.

Wireless communications semiconductor and equipment manufacturer Qualcomm (NASDAQ:QCOM) is one of the companies leading the ongoing global 5G broadband network rollout. Further, with the growth prospects of the Internet of Things (IoT), the company stands to benefit remarkably over the long term.

Apart from IoT, the company also has significant opportunities to grow in the automotive technology market. The company’s Snapdragon…