From Nasdaq:

Economic improvements in 2024 will lead to increased consumer confidence, with internet stocks set to benefit. eCommerce and online advertising will see broad-based gains as consumer spending ramps up, offering rich investment opportunities. Wedbush’s Scott Devitt predicts normalized growth rates for eCommerce and digital advertising, with Amazon and Meta Platforms named as top internet stocks for 2024. Devitt forecasts a 38% upside for Amazon, and a 18.5% gain for Meta. Amazon’s retail sales reached $143.1 billion in Q3, with a 16% increase in international retail sales, while Meta’s reached $34.15 billion, growing 23% year-over-year. Both stocks are rated Strong Buys.



Read more: The Countdown Begins: Scott Devitt Picks His 3 Top Internet Stocks for 2024