As we wrap up the first-quarter earnings season, many investors are looking for insight into which internet stocks are poised for success in the current market environment. Eric Sheridan, Goldman’s top technology analyst, has outlined his top picks based on the trends he’s observed.
At Extreme Investor Network, we believe in providing our readers with unique and valuable information that sets us apart from other investment websites. So, let’s take a closer look at some of the internet stocks that Sheridan named as favorites and why they stand out:
1. Amazon: With a 21% year-to-date increase, Amazon is seen as offering one of the best risk-reward opportunities post earnings season. The recovery in Amazon Web Service revenue, strong e-commerce revenue, and operating margins in North America business make it a solid choice for investors.
2. Alphabet: Sheridan sees Alphabet benefiting from strong advertising demand and recovery from concerns over long-term search. This tech giant is well-positioned to capitalize on ad trends and its AI potential.
3. Meta Platforms: Previously known as Facebook, Meta Platforms is expected to benefit from similar advertising trends and its focus on AI and metaverse investment cycles. Long-term potential is key for this stock.
4. Expedia: As online travel normalizes post-Covid, Expedia is set to benefit from industry reshaping artificial intelligence and customer conversion. A 60% rally potential following a 26% YTD slump shows promise.
5. Instacart: With a 39% surge in shares this year, Instacart is positioned to thrive in the changing consumer landscape. The recent partnership with Uber in the restaurant delivery category showcases its evolution into a multi-vertical platform.
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