Factors including a stronger U.S. dollar are "putting a hurt" on first-quarter results, said Michael Cuggino, president and portfolio manager at Permanent Portfolio Funds, on "Power Lunch." Facebook, though, is an "early stage growth story" that can resist many of those pressures, he said.
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Wall Street is expecting the company's first-quarter revenue and earnings per share to jump 42 and 19 percent year-over-year, respectively, according to a consensus estimate from Thomson Reuters.
Squali pointed to multiple key factors driving Facebook's growth. The company has created strong revenue streams through its mobile app and video ads on users' news feeds, he said.
He added that Facebook holds key services that it will start to monetize long-term. Photo-sharing app Instagram and messaging services WhatsApp and Facebook Messenger can serve as "vectors of growth" moving forward, he contended.
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Facebook shares were trading nearly 3 percent higher Monday afternoon. The stock has climbed 6 percent this year.