metaplatforms (GOAL 1.90%) has been criticized by investors and Wall Street analysts this year for its intense focus on developing a virtual world: the metaverse. Its Reality Labs segment spent more than $9.4 billion on the project in 2022 alone, denting the company’s profits at a time when its business is already suffering from the weak economic environment.

But I want to focus on Meta’s family of apps, which includes Facebook, Instagram, and WhatsApp, because they still generate 98% of the company’s revenue. Meta is rolling out swaths of new features on these flagship platforms, proving that their innovation engine is alive and well.

Investors should pay attention because shares of Meta Platforms are down 66% from their all-time high. That could be a great long-term opportunity if the…