Is Meta Platforms (META) Philippe Laffont’s Top Pick?

Group 1 - Meta Platforms, Inc. (NASDAQ:META) is the top stock pick for Philippe Laffont, accounting for 7.27% of his portfolio, valued at $2.96 billion [1] - The company is developing a stand-alone application called "Instants" for sending disappearing photos, reflecting its strategy to create lightweight, engagement-driven products [2][3] - Meta's innovation with Instants aims to enhance user engagement and protect user attention from competitors like Snapchat [2] Group 2 - Meta is currently facing regulatory challenges in Europe, with a recent decision from the EU's top court extending a legal battle regarding a $268 million GDPR fine against WhatsApp [4] - The court's decision provides procedural relief for Meta, which may influence future EU privacy enforcement cases [4] - Meta generates revenue primarily from advertising and invests in emerging technologies through its Reality Labs division [5]