1. Meta Platforms' stock has risen over 50% YTD due to the potential ban of TikTok in the US and the momentum in its FoA segment. 2. Meta has seen its DAU's and ARPU grow 6.5% and 14% YoY respectively, driven by audience overlap and strategic AI initiatives. 3. Despite the Reality Labs segment dragging down profitability, Meta's operating margins have increased by 900 basis points YoY.