Zoom founder Eric Yuan poses in front of the Nasdaq building as the screen shows the logo of the video-conferencing software company Zoom after the opening bell ceremony on April 18, 2019 in New York City.Internet and software companies turned out to be smart quick plays for investors during the coronavirus pandemic, but Bank of America said some of the companies in the sector are set to enjoy a long-term boost from the shift in demand.
"We identify companies that not only benefit from COVID shifts in budgets and customer demand, but can sustain the benefit long term amid accelerated digital transformations, large addressable markets, superior technology/competitive moat, and strong customer economics," Kash Rangan, research analyst at Bank of America, said in a note.
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