Hence, it's no surprise the social media platform continues to be the pick among consumers, and Wall Street.
In a rating of hedge funds' top 10 holdings done by Citi, 16 held Alphabet (GOOGL) - Get Report and 15 held Facebook in their top 10 during the three months ended June 30. The two had been tied in the first quarter of 2017, when 13 firms held both Alphabet and Facebook in their top 10 holdings.
Shares of Facebook have surged 56% over the past year.
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