Tags: Investing | Facebook | Google | Amazon

CNNMoney's Egan: Consider Investing in Facebook, Google, Amazon

By    |   Wednesday, 21 May 2014 11:15 AM

Technology stocks have slumped in recent weeks, and that has created good buying opportunities in some experts' eyes.

"Despite the pullback in valuations, the fundamentals of large-cap Internet companies haven't changed," Citigroup analyst Mark May writes in a commentary obtained by CNNMoney.

Matt Egan of CNNMoney suggests three companies to consider buying:

Editor’s Note:
Retire 10 Years Earlier With These 4 Stocks
  • Facebook. Its shares have dropped 19.3 percent from their March 11 record peak of $72.59. But the company's profit could soar 40 percent during the next three years, Anthony DiClemente, a stock analyst at Nomura Research, tells Egan.
  • Google. Its stock has slipped 12.4 percent from its all-time high of $604.83. But Citigroup forecasts that the company's revenue will jump 49 percent this year. "Google is well-positioned in key secular growth areas, such as mobile and video, with a dominant share of search," May said.
  • Amazon.com. Its shares have slid 26.2 percent from its record peak of $408.06 Jan. 22. The stock is "fundamentally undervalued," Peter Wahlstrom, director of Morningstar's technology equity analysis, tells Egan. Citigroup estimates Amazon will generate 20 percent revenue growth next year.
Meanwhile, venture capital titan Marc Andreessen of Andreessen Horowitz says investors haven't soured on the tech sector. "We have not seen any pullback so far on private investment," he tells The New York Times.

"Actually, what we're seeing is more of the opposite right now. We're seeing a lot more institutional money, in particular from the hedge fund world, crossing over" to invest in the tech industry.

Editor’s Note: Retire 10 Years Earlier With These 4 Stocks

© 2020 Newsmax Finance. All rights reserved.


   
1Like our page
2Share
StreetTalk
Technology stocks have slumped in recent weeks, and that has created good buying opportunities in some experts' eyes.
Investing, Facebook, Google, Amazon
267
2014-15-21
Wednesday, 21 May 2014 11:15 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved