Stock market picks: Evercore strategist shares his top 3 tech names

"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."

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