"Meta's the cheapest high-quality tech stock out there, period," Mahaney said of his top pick.
As the sector pushes higher, Mark Mahaney, Evercore ISI head of internet research, said there are three names in particular that investors should be paying attention to. "Meta's the cheapest high-quality tech stock out there, period. 14 times GAAP earnings and it's got three product cycles that it's going through. First is this Reel's monetization [program that] they successfully borrowed from or stole from TikTok. Second is that Click-to-Message product that's out in the market that's doing well," he toldon Wednesday.
"It's the triple trough thesis. We think the stock right here [has had] trough multiples, trough margins, and trough revenue growth. If we're right on that, you could have a material rewriting of the stock."
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market outlook: 4 reasons current bull rally is most hated in history4 reasons why the current rally in stocks could become the most hated bull market in history
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »