Wells Fargo & Company (NYSE:WFC) is a diversified financial services company that provides banking, investment, and mortgage products in the United States as well internationally.
The four segments include Consumer Banking & Lending, Commercial Banking, Corporate/Investment Bankers Group, which covers all aspects of wealth management for both individuals and companies.
They offer a variety of financial services, including checking and savings accounts, credit cards, debit card processing, home lending of various sizes, from small businesses such as auto loans to larger ventures like commercial real estate investments.
Wells Fargo has an extensive line-up of financial services that include corporate banking, investment banking, treasury management as well as commercial real estate lending for clients across all industries.
Meta Platforms, Inc. (NASDAQ:FB) creates products that connect people with friends and family through mobile devices like smartphones or tablets. The company has two segments: Family of Apps which includes Facebook Messenger; Instagram, WhatsApp, and Messenger.
The other section is Reality Labs which provides augmented reality hardware/software solutions, including virtual realities head-mounted displays. The company was previously called Facebook before changing its name to Meta Platforms.
Which one is a better buy?
Wells Fargo and Meta Platforms both have huge potential for gains in 2022. Wells Fargo, like all banking stocks, is set to benefit from interest rates going up in the United States. That’s because interest income will go up as well.
On its part, Meta Platforms is positioned in one of the fastest-growing markets today, and that’s the Metaverse. As the Metaverse grows in adoption, AR/VR companies like Meta Platforms could record massive growth in 2022.
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